Steven Tandy Company reported the following balances at December 31, 2019: common stock $525,000; paid-in capital in excess of par-common stock $205,000; retained earnings $330,000. During 2020, the following transactions affected stockholder's equity.

1.Issued preferred stock with a par value of $210,000 for $235,000. 2.Purchased treasury stock (common) for $69,000. 3.Earned net income of $250,000. 4.Declared and paid cash dividends of $87,000 ($17,345 preferred).