The following information pertains to Parsons Co.: Preferred stock, cumulative: Par value per share $100 Dividend rate 8% Shares outstanding 10,000 Dividends in arrears none Common stock: Par value per share $10 Shares issued 115,000 Dividends paid per share $2.20 Market price per share $49 Additional paid-in capital $520,000 Unappropriated retained earnings (after closing) $250,000 Retained earnings appropriated for contingencies $280,000 Common treasury stock: Number of shares 10,000 Total cost $260,000 Net income