Prepare the stockholders' equity section of the balance sheet at December 31, 2022. Include 2022 net income of an increase to the January 1, 2022 Retained Earnings .

The stockholders' equity accounts of Martinez Corp. on January 1, 2022 were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (5,000 common shares) $300,000 1,000,000 15,000 480,000 689.000 40,000 1 During 2022. the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. Issued 5,000 shares of common stock for $30,000. Mar. 20 Purchased 1,000 additional shares of common treasury stock at $8 per share. Declared a 7% cash dividend on preferred stock payable November 1. Nov. 1 Paid the dividend declared on October 1. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15. payable December 31.2022 Dec. 31 Paid the dividend declared on December 1. Oct. 1 Dec Prepare the stockholders' equity section of the balance sheet at December 31, 2022. Include 2022 net income of $335,000 as an increase to the January 1, 2022, Retained Earnings. MARTINEZ CORP. Partial Balance Sheet December 31, 2022 > >