Thank you in advance.

The stockholders' equity accounts of Metlock, Inc. on January 1, 2022, were as follows. Preferred Stock (8%, $50 par, cumulative, 10,000 shares authorized) $ 425,000 Common Stock ($1 stated value, 2,000,000 shares authorized) 1,150,000 Paid-in Capital in Excess of Par-Preferred Stock 130,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,500,000 Retained Earnings 1,750,000 Treasury Stock (10,000 common shares) 50,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 24,500 shares of common stock for $123,000. Apr. 14 Sold 5,500 shares of treasury stock-common for $33,700. Sept. 3 Issued 5,200 shares of common stock for a patent valued at $34,600. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $6,100. Dec. 31 Determined that net income for the year was $480,000. No dividends were declared during the year. Preferred Stock Date Debit Credit Balance Explanation Ref. Balance Common Stock Date Debit Credit Balance Explanation Ref. Balance 15 J5 Credit Balance Paid-in Capital in Excess of Par-Preferred Stock Date Explanation Ref. Debit Balance Paid-in Capital in Excess of Stated Value-Common Stock Date Explanation Ref. Debit Balance Credit Balance 15 15 Paid-in Capital from Treasury Stock Date Explanation Ref. Debit Credit Balance J5 Retained Earnings Date Debit Credit Balance Explanation Ref. Balance J5 Treasury Stock Date Debit Credit Balance Explanation Ref. Balance 15 J5 CASTLE CORPORATION Balance Sheet (Partial) TE