Swifty Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, preferred stock and 1,068,600 shares of no- par common stock. The corporation assigned a $2.60 stated value to the common stock. At December 31, 2022, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock $130,000 14,000 1,068,600 Paid-in Capital in Excess of Stated Value-Common Stock 2.219,400 Treasury Stock (1,160 common shares) 13,920 Paid-in Capital from Treasury Stock Retained Earnings 1740 84,000 The preferred stock was issued for land having a fair value of $144,000. All common stock issued was for cash. In November, 1.740 shares of common stock were purchased for the treasury at a per share cost of $12. In December, 580 shares of treasury stock were sold for $15 per share. No dividends were declared in 2022 (a)