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

Preferred Stock (12,100 shares issued)		$1,234,200
Common Stock (311,000 shares issued)		1,555,000
Paid-in Capital in Excess of Par ValuePreferred Stock		210,000
Paid-in Capital in Excess of Stated ValueCommon Stock		1,710,000
Retained Earnings		2,758,000

A review of the accounting records reveals this information:

1.		Preferred stock is 7%, $102 par value, noncumulative. Since January 1, 2021, 12,100 shares have been outstanding; 24,200 shares are authorized.
2.		Common stock is no-par with a stated value of $5 per share; 622,000 shares are authorized.
3.		The January 1, 2022, balance in Retained Earnings was $2,291,000.
4.		On October 1, 64,500 shares of common stock were sold for cash at $8 per share.
5.		A cash dividend of $391,000 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 $858,000.
7.		On December 31, 2022, the directors authorized disclosure of a $151,500 restriction of retained earnings for plant expansion. (Use Note A.)

Question 2 of 2 - /5 E View Policies Current Attempt in Progress The ledger of Swifty Corporation at December 31, 2022, after the books have been closed, contains the following stockholders' equity accounts. Preferred Stock (12.100 shares issued) $1.234.200 Common Stock (311.000 shares issued) 1.555.000 Paid-in Capital in Excess of Par Value-Preferred Stock 210,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,710,000 Retained Earnings 2.758.000 A review of the accounting records reveals this information: 1. Preferred stock is 7%, $102 par value, noncumulative. Since January 1, 2021, 12,100 shares have been outstanding: 24.200 shares are authorized. Common stock is no-par with a stated value of $5 per share: 622,000 shares are authorized The January 1, 2022, balance in Retained Earnings was $2.291,000. On October 1.64.500 shares of common stock were sold for cash at $8 per share. 5. A cash dividend of $391,000 was declared and properly allocated to preferred and common stock on November 1. No dividends were paid to preferred stockholders in 2021. Net income for the year was $858,000. 7. On December 31, 2022, the directors authorized disclosure of a $151.500 restriction of retained earnings for plant expension. (Use Note A) 2. 3. 4 VON (a) Reproduce the Retained Earnings account for the year. Retained Earnings eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above