the post-closing trial balance of Wildhorse Corporation at Dec 31,2022, contains the following stockholder's equity accounts.

Preferred stock (14,600 shares issued) 730,000

Common stock (243,000 shares issued) 2,430,000

paid in capital in excess of par-preferred stock 243,000

pain in capital in excess of par-common stock 418,000

common stock dividends distributable 243,000

retained earnings 985,220

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 Jan 1,2021.

3. authorized stock is 19,600 shares of preferred,486,000 shares of common stock with a $10 par value.

4. the Jan 1 balance in retained earnings was 1,130,000

5. on July 1, 20,200 shares of common stock were issued for cash at $16 per share.

6. on Sept 1,the co. discovered an understatement error of 91,400 in computing salaries and wages expense in

2021. the net of tax effect of 63,980 was properly debited directly to retained earnings.

7.a cash dividend of 243,000 was declared and properly allocated to preferred and common stock on Oct 1. no dividends were pd to preferred stockholders in 2021.

8. on Dec 31, a %10 common stock dividend was declared out of retained earnings on common stock when the market price per share was $16.

9.net income for the year was 551,000.

10. on Dec 31,2022, the directors authorized disclosures of a 201,000 restriction of retained earnings for plant expansion. (useNoteX).

A) Reproduce the retained earnings account for 2022.

B) Show a stockholder's equity section at Dec 31,2022

C) Compute the allocation of the cash dividend to preferred and common stock.

allocation of the cash dividend to preferred stock

allocation of the cash dividend to common stock