Martinez Corporation had the following stockholders' equity accounts on January 1,2022 : Common $ tock ( $5 par) $500,000, Paid-in Capital in Excess of Par-Common Stock $180,000, and R Xtained Earnings $120,000. In 2022, the company had the following treasury stocktransactions. Mar. 1 Purchased 5,500 shares at $8 per share. June 1 Sold 1,000 shares at $12 per share. Sept. 1 Sold 2,000 shares at $10 per share. Dec. 1 Sold 1.000 shares at $7 per share. Martinez Corporation uses the cost method of accounting for treasury stock in 2022, the company reported net income of $31.000. Balance Sheet (Partial) December 31, 2022 Stockhoiders' Equity Paid-in Capital Common Stock 5 500000 Paid in Capital from Treasury Stock $ 500000 s Less : Tremury Stock Total Stockholders Equity 5