On December 31, 2021, Oriole Company had 1,355,000 shares of $5 par common stock issued and outstanding. At December 31, 2021, stockholders equity had the amounts listed here. Transactions during 2022 and other information related to stockholders equity accounts were as follows.

Common Stock		$6,775,000
Additional Paid-in Capital		1,785,000
Retained Earnings		1,185,000

On January 10, issued at $108 per share 120,000 shares of $103 par value, 7% cumulative preferred stock.

On February 8, reacquired 17,200 shares of its common stock for $12 per share.

On May 9, declared the yearly cash dividend on preferred stock, payable June 10, to stockholders of record on May 31.

On June 8, declared a cash dividend of $1.40 per share on the common stock outstanding, payable on July 10, to stockholders of record on July 1.

Net income for 2022 was $3,510,000.

Dividends Payable 865200 Jun. 8 Cash Dividends Dividends Payable Jun. 10 TDividends Payable 865200 Cash Jul. 10 Dividends Payable T THUOTTTL Tcash Dec. 31 Income Summary 3510000 3510000 Retained Earnings (To close net income) Dec. 31 Retained Earnings Cash Dividends (To close cash dividends) 1 Total Additional Paid-in Capital 2385000 Total Paid-in Capital 21520000 TRetained Earnings Total Paid-in Capital and Retained Earnings Less Treasury Stock 206400 Total Stockholders' Equity