Problem 11-3A The stockholders' equity accounts of Castle Corporation on January 1, 2015, were as follows. Preferred Stock (8%, $50 par, cumulative, 10,900 shares authorized) 385,000 Common Stock ($1 stated value, 2,086,100 shares authorized) 1,120,700 Paid-in Capital in Excess of Par-Preferred Stock 102,800 Paid-in Capital in Excess of Stated Value-Common Stock 1,442,200 Retained Earnings 1,798,000 Treasury Stock (10,600 common shares 53,000 During 2015, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 25,400 shares of common stock for $118,700 Apr. 14 Sold 5,800 shares of treasury stock-common for $32,200. Sept. 3 Issued 4,800 shares of common stock for a patent valued at $34,400. Nov. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $5,700 Dec. 31 Determined that net income for the year was $444,900. No dividends were declared during the year