Srocknolders'zquity statement (in thousands, except shares) Paid-in Capital in Excess of Common Stock Par- Common Stock Common Stock Dividends Distributable Treasury Stock Balances, Jan. 1 Issued 85,000 share for stock dividend Issued 42,500 shares for cash Purchased 25,000 shares of treasury stock Declared cash dividend Sold 6,000 shares of treasury stock Net income for year Balances, $ $ $ $ On January 1, 2022, Sunland Inc. had the following stockholders' equity balances. During 2022, the following transactions and events occurred. 1. Issued 85,000 shares of $2 par value common stock as a result of 15% stock dividend declared on December 15,2023. 2. Issued 42,500 shares of common stock for cash at $4 per share. 3. Purchased 25,000 shares of common stock for the treasury at $5 per share. 4. Declared and paid a cash dividend of $113,000. 5. Sold 6,000 shares of treasury stock for cash at $5 per share. 6. Earned net income of $340,000. Prepare a stockholders' equity statement for the year. (If an omount reduces the account balance then enter with negative sign precjeding the number eg. -45 or parentheses eg. (45).)