Show Attempt History Current Attempt in Progress The stockholders' equity accounts of Sarasota Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 3,000 shares authorized) Common Stock ($4 stated value, 180,000 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 (3,000 common shares) $180,000 600,000 9,000 288,000 412.800 24,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 3,000 shares of common stock for $18.000, Mar. 20 Purchased 600 additional shares of common treasury stock at 57 per share, Oct 1 Declared a 7% cash dividend on preferred stock payable November, Nov. 1 Paid the dividend declared on October 1. Dec 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 25 payable December 31 Dec 31 Determined that net income for the year was $168.000 Paid the dividend declared on December Your answer is partially correct. Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock 1/1 Bal. 180000 12/31 Bal. 180000 Common Stock 1/1 Bal 600000 21 12000 12/31 Bal 612000 Paid-in Capital in Excess of Par Value Preferred Stock 1/1 Bal M 9000 12/31 Bali 9000 Retained Earnings 1/1 Bal. 412800 12/31 87300 12/31 168000 12/31 Bal. V 493500 Cash Dividends 10/1 12600 12/1 74,700 12/31 87300 12/31 Bal. 87300 NO Treasury Stock 24000 1/1 Bal. 3/20 4200 12/31 Bal 28200