Nichols Inc. has the following transactions impacting its equity accounts during $2023.$ The number of shares of $$1$ par value common stock authorized is $20,000,000$ and the number of shares outstanding as of January $1,2023$ is $10,000,000.$ The company also has $20,000$ shares of $6\%$ preferred stock with $$100$ par value authorized and outstanding at the beginning of the year. The preferred stock may be converted into $10$ shares of common stock and was originally issued for $$110$ per share. January $1$ Issued $5,000$ for consulting services. The market price of the common stock is $$8$ per share.

June $1-$ Repurchases $10,000$ shares of stock at $$7$ per share.

September $1$ Resold $5,000$ shares of treasury stock at $$10$ per share

October $1$ All of the preferred stock converted into common stock.

November $1$ Declares & pays $10\%$ stock dividend. Market price of stock is $$12.$