The post-closing trial balance of Sunland Corporation at December 31, 2022, contains the following stockholders' equity accounts. A review of the accounting records reveals the following. 1. No errors have been made in recording 2022 transactions or in preparing the closing entry for net income- 2. Preferred stock is $50 par, 6\%, and cumulative, 14,600 shares have been outstanding since January 1,2021 3. Authorized stock is 19,600 shares of preferred, 484,000 shares of common with a $10 par value. 4. The January 1 balance in Retained Earnings was $1,100.000. 1. No errors have been made in recording 2022 transactions or in preparing the closing entry for net income. 2. Preferred stock is $50 par, 6%, and cumulative; 14,600 shares have been outstanding since January 1,2021 3. Authorized stock is 19,600 shares of preferred, 484,000 shares of common with a $10 par value. 4. The January 1 balance in Retained Earnings was $1,100.000. 5. On July 1,21,900 shares of common stock were issued for cash at $18 per share: 6. On September 1 , the company discovered an understatement error of $90,900 in computing salaries and wages expense in 2021. The net of tax effect of $63,630 was properly debited directly to Retained Earnings. 7. A cash dividend of $242,000 was declared and properly allocated to preferred and common stock on October 1 . No dividends were paid to preferred stockholders in 2021. 8. On December 31 , a 10% common stock dividend was declared out of retained earnings on common stock when the market price per share was $18. 9. Net income for the year was $551,000. 10. On December 31,2022 , the directors authorized disclosure of a $201,000 restriction of retained earnings for plant expansion. (Use Note X ) Prepare a stockholders' equity section at December 31, 2022. (Enter account name only and do not provide descriptive information.) eTextbook and Media List of Accounts Attempts: 0 of 1 used Submit Answer Sive for Later