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

Problem 11-03A

On December 31, 2021, Sunland Company had 1,280,000 shares of $6 par common stock issued and outstanding. At December 31, 2021, stockholders equity had the amounts listed here.

Common Stock		$7,680,000
Additional Paid-in Capital		1,790,000
Retained Earnings		1,280,000

Transactions during 2022 and other information related to stockholders equity accounts were as follows.

1.		On January 10, issued at $113 per share 126,000 shares of $103 par value, 9% cumulative preferred stock.
2.		On February 8, reacquired 12,500 shares of its common stock for $14 per share.
3.		On May 9, declared the yearly cash dividend on preferred stock, payable June 10, to stockholders of record on May 31.
4.		On June 8, declared a cash dividend of $1.50 per share on the common stock outstanding, payable on July 10, to stockholders of record on July 1.
5.		Net income for 2022 was $3,662,000.