Question 2 of 4 < > View Policies Current Attempt in Progress The stockholders' equity accounts of Martinez Corporation on January 1, 2022, were as follows. Preferred Stock (8%, $52 par, 10,000 shares authorized) $416.000 Common Stock ($1 stated value, 2.100,000 shares authorized) 1,450,000 Paid-in Capital in Excess of Par-Preferred Stock 110.000 Paid-in Capital in Excess of Stated Value-Common Stock 1,400,000 Retained Earnings 1,850,000 Treasury Stock (11.000 common shares) 55,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 26.000 shares of common stock for $116,000. Apr. 14 Sold 5,500 shares of treasury stock-common for $33,900. Sept. 3 Issued 4,800 shares of common stock for a patent valued at $34,100. C Nov, 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5.700. Dec. 31 Determined that net income for the year was $465,000. No dividends were declared during the year. -/1 Question 2 of 4 < > View Policies Current Attempt in Progress The stockholders' equity accounts of Martinez Corporation on January 1, 2022, were as follows. Preferred Stock (8%, $52 par, 10,000 shares authorized) $416.000 Common Stock ($1 stated value, 2.100,000 shares authorized) 1,450,000 Paid-in Capital in Excess of Par-Preferred Stock 110.000 Paid-in Capital in Excess of Stated Value-Common Stock 1,400,000 Retained Earnings 1,850,000 Treasury Stock (11.000 common shares) 55,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 26.000 shares of common stock for $116,000. Apr. 14 Sold 5,500 shares of treasury stock-common for $33,900. Sept. 3 Issued 4,800 shares of common stock for a patent valued at $34,100. C Nov, 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5.700. Dec. 31 Determined that net income for the year was $465,000. No dividends were declared during the year. -/1