Martinez Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, preferred stock and 1,084,200 shares of nopar common stock. The corporation assigned a $2.60 stated value to the common stock. At December 31, 2022, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock $125,000 Paidin Capital in Excess of ParPreferred Stock 15,000 Common Stock 1,084,200 Paidin Capital in Excess of Stated ValueCommon Stock 1,834,800 Treasury Stock (1,160 common shares) 13,920 Paidin Capital from Treasury Stock 1,740 Retained Earnings 81.500 The preferred stock was issued for land having a fair value of $140,000. All common stock issued was for cash. In November, 1,740 shares of common stock were purchased for the treasury at a per share cost of $12. In December, 580 shares of treasury stock were sold for $15 per share. No dividends were declared in 2022. Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock 125000 Common Stock 1084200 Total Capital Stock $ Additional Paid-in Capital Paid-in Capital in Excess of Par-Preferred Stock 15000 Paid-in Capital from Treasury StockPaid-in Capital in Excess of Stated Value-Common Stock 1834800 v v Less Treasury Stock Total Stockholders' Equity