P4. Common Stock Issuance, Treasury Stock, Preferred Stock, Dividends, Comprehensive Income, Disclosure. Castleline, Inc. reported the following shareholders' equity section as of the beginning of the current year: Stockholders' Equity Contributed Capital: Common Stock, $1 par value, 3,850,000 shares authorized, 905,000 shares $ 905,000 issued, and 821,500 shares outstanding Additional Paid-in Capital in Excess of Par Common 22,625,000 Total Contributed Capital $ 23,530,000 Retained Earnings $ 8,957,450 Accu ulated t er Co pre ensi e nco e 1.057.600 ess Treasur Stock 83,500 common shares at cost 1,670,000 at l Stockholders' Equity $ 31,875,050 During the current year, Castleline engaged in the following transactions affecting the stockholders' equity section of its current balance sheet. 1. 2. 5\" Issued 400,000 shares of its $1 par value common stock at $31 per share. The underwriter charged a 3% fee for issuing the shares. The stock issue costs are not capitalized. Issued 500,000 shares of $10 par value 6% preferred stock (2,550,000 authorized) at $40 per share. These shares were privately placed and Castleline did not pay stock issue costs. Purchased 220,000 shares of common stock at $32 per share. Declared a $450,000 dividend for the rst half of the year. (The declarations should be recorded sepa- rately for the common and the preferred shares.) Sold 105,000 of the treasury shares at $44 per share. (The 83,500 treasury shares on hand at the beginning of the year are considered sold rst. The company paid $20 per share for these shares of treasury stock). Paid the cash dividends