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1 x Micr: X e Stud x we WP# X @ The ! X & Lean X & Inval x - Logi x > Ling x Vital x | Vital x @ Laur x | Econ x + ABP earn.wileyplus.com/courses/40052/assignments/4253982?module_item_id=13451846 ferences The ledger of Marigold Corp. at December 31, 2022, after the books have been closed, contains the following stockholders' equity accounts. laborations Preferred Stock (10,700 shares issued) $1,080,700 leyPLUS Support Common Stock (297,000 shares issued) 1,782,000 Paid-in Capital in Excess of Par Value-Preferred Stock 140,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,570,000 Retained Earnings 2,765,000 A review of the accounting records reveals this information: 1. Preferred stock is 8%, $101 par value, noncumulative. Since January 1, 2021, 10,700 shares have been outstanding; 21,400 shares are authorized. 2. Common stock is no-par with a stated value of $6 per share; 594,000 shares are authorized. 3. The January 1, 2022, balance in Retained Earnings was $2,277,000. 4. On October 1, 64,000 shares of common stock were sold for cash at $9 per share. 5. A cash dividend of $397,000 was declared and properly allocated to preferred and common stock on November 1. No dividends were paid to preferred stockholders in 2021. 6. Net income for the year was $885,000. 7 . On December 31, 2022, the directors authorized disclosure of a $157,000 restriction of retained earnings for plant expansion. (Use Note A.) (a) Reproduce the Retained Earnings account for the year. Retained Earnings Jan. 1 Balance 2765000 Type here to search 11:18 PM 5/21/2020 DIL F6 F7 PrtSen Home F9 End F10 PgDn a Ins 2 9 O O W F R O P S D