On January 1, 2022, Sheridan Inc had the following stockholders' equity balances. $ 1,190,000 540,000 Common Stock (595,000 shares issued) Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings 210,000 620,000 During 2022, the following transactions and events occurred. 1 2 Issued 105,000 shares of $ 2 par value common stock as a result of 15% stock dividend declared on December 15, 2023, Issued 52,500 shares of common stock for cash at $ 4 per share. Purchased 29,000 shares of common stock for the treasury at $5 per share. Declared and paid a cash dividend of $ 111,000. 3 5. Sold 5,000 shares of treasury stock for cash at $5 per share 6 Earned net income of $ 320,000 Stockholders' Equity Statement fin thousands, except shares) Paid in Capital in Excess of Par- Common Stock Common Stock Common Stock Dividends Distributable Treasury Stock Balances Jan. 1 Issued 105,000 share for stock dividend Issued 52,500 shares for cash Purchased 29,000 shares of treasury stock Declared cash dividend ILITIES Sold 5.000 shares of treasury stock Net Income for year Balances Dec 31