Question 1 Flint Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 152,800 shares Common Stock, 1,998,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $ 3,056,000 9,990,000 200,000 26,724,000 4,571,000 The following transactions affected stockholders' equity during 2021. Jan. 1 Feb. 1 June 1 July 1 Sept. 15 Dec. 31 Dec. 31 27,600 shares of preferred stock issued at $24 per share. 51,100 shares of common stock issued at $20 per share. 2-for-1 stock split (par value reduced to $2.50). 27,400 shares of common treasury stock purchased at $10 per share. Flint uses the cost method. 9,400 shares of treasury stock reissued at $11 per share. The preferred dividend is declared, and a common dividend of 55 per share is declared. Net income is $2,076,000. Prepare the stockholders' equity section for Flint Company at December 31, 2021. (Enter account name only and do not provide descriptive information.) FLINT COMPANY Stockholders' Equity December 31, 2021 Capital Stock Preferred Stock Common Stock Total Capital Stock Additional Paid-in Capital paid Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Less Treasury Stock Total Stockholders' Equity