The post$-$closing trial balance of Carla Vista Corporation at December $31,2022,$ contains the following stockholders' equity accounts.

A review of the accounting records reveals the following.

No errors have been made in recording $2022$ transactions or in preparing the closing entry for net income.

Preferred stock is $$50$ par, $6\%,$ and cumulative; $15,500$ shares have been outstanding since January $1,2021.$

Authorized stock is $20,500$ shares of preferred, $518,000$ shares of common with a $$15$ par value.

The January $1$ balance in Retained Earnings was $$1,120,000.$

On July $1,19,200$ shares of common stock were issued for cash at $$16$ per share.

On September $1,$ the company discovered an understatement error of $$89,000$ in computing salaries and wages expense in

The net of tax effect of $$62,300$ was properly debited directly to Retained Earnings.

A cash dividend of $$388,500$ was declared and properly allocated to preferred and common stock on October $1.$ No

dividends were paid to preferred stockholders in $2021.$

On December $31,$ a $10\%$ common stock dividend was declared out of retained earnings on common stock when the market

price per share was $$16.$

Net income for the year was $$591,000.$

On December $31,2022,$ the directors authorized disclosure of a $$194,000$ restriction of retained earnings for plant

expansion. $($Use Note X$.)$ Your answer is partially correct.

Reproduce the Retained Earnings account for $2022.($List items in order presented in the problem.$)$ Prepare a stockholders' equity section at December $31,2022.($Enter account name only and do not provide descriptive information.$)$

CARLA VISTA CORPORATION

Partial Balance Sheet

December $31,2022$

Capital Stock

Preferred Stock

$

Common Stock

$

Common Stock Dividends Distributable

Additional Paid$-$in Capital

Paid$-$in Capital in Excess of Par$-$Preferred Stock

Paid$-$in Capital in Excess of Par$-$Common Stock

Total Additional Paid$-$in Capital

Retained Earnings