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On January 1, 2022, Sage Hill Inc. had these stockholders equity balances. Common Stock, $1 par (2,500,000 shares authorized, 650,000 shares issued and outstanding) $650,000

On January 1, 2022, Sage Hill Inc. had these stockholders equity balances.

Common Stock, $1 par (2,500,000 shares authorized, 650,000 shares issued and outstanding) $650,000
Paid-in Capital in Excess of Par Value 1,420,000
Retained Earnings 698,000
Accumulated Other Comprehensive Income 50,000

During 2022, the following transactions and events occurred.

1. Issued 46,500 shares of $1 par value common stock for $2 per share.
2. Issued 61,000 shares of common stock for cash at $6 per share.
3. Purchased 22,500 shares of common stock for the treasury at $3.05 per share.
4. Declared and paid a cash dividend of $205,500.
5. Earned net income of $422,000.
6. Had other comprehensive income of $15,800.

Prepare the stockholders equity section of the balance sheet at December 31, 2022.

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