The ledger of Concord Corporation at December 31, 2022, after the books have been closed, contains the following stockholders equity accounts.

Preferred Stock (11,700 shares issued)		$1,205,100
Common Stock (307,000 shares issued)		2,149,000
Paid-in Capital in Excess of Par ValuePreferred Stock		190,000
Paid-in Capital in Excess of Stated ValueCommon Stock		1,670,000
Retained Earnings		2,775,500

A review of the accounting records reveals this information:

1.		Preferred stock is 8%, $103 par value, noncumulative. Since January 1, 2021, 11,700 shares have been outstanding; 23,400 shares are authorized.
2.		Common stock is no-par with a stated value of $7 per share; 614,000 shares are authorized.
3.		The January 1, 2022, balance in Retained Earnings was $2,287,000.
4.		On October 1, 60,500 shares of common stock were sold for cash at $10 per share.
5.		A cash dividend of $397,500 was declared and properly allocated to preferred and common stock on November 1. No dividends were paid to preferred stockholders in 2021.
6.		Net income for the year was $886,000.
7.		On December 31, 2022, the directors authorized disclosure of a $167,000 restriction of retained earnings for plant expansion. (Use Note A.)

(a)

Reproduce the Retained Earnings account for the year.

Retained Earnings
choose a transaction date Jan. 1 BalanceDec. 31Dec. 31 Balance	enter a debit amount	choose a transaction date Jan. 1 BalanceDec. 31Dec. 31 Balance	enter a credit amount
choose a transaction date Jan. 1 BalanceDec. 31Dec. 31 Balance	enter a debit amount	choose a transaction date Jan. 1 BalanceDec. 31Dec. 31 Balance	enter a credit amount
choose the end date of the accounting period Jan. 1 BalanceDec. 31Dec. 31 Balance	enter a debit balance	choose the end date of the accounting period Jan. 1 BalanceDec. 31Dec. 31 Balance	enter a credit balance