The shareholders equity section for Allen Corp. on December 31, 2021 appears below: Preferred Stock (S100 par, 6%, 20,000 shares authorized, issued, and outstanding) $ 2,000,000 Additional Paid-in Capital - Preferred Stock 6,600,000 Common Stock ($1 par, 5,000,000 shares authorized, 2,000,000 shares issued and outstanding) 2,000,000 Additional Paid-in Capital - Common Stock 26,000,000 Retained Earnings 89,500,000 During 2021 the following transactions occurred. January 2 Sold 50,000 shares of common stock at $17 per share April 8 Bought 40,000 shares of common stock for $15 per share and put it in treasury. June 30 Paid semi-annual dividend of S2 per share for common stock and paid half of the annual dividend for preferred stock. August 22 Sold 15,000 shares of stock in treasury for $12 per share December 31 Allen reported net income for 2021 of $17,600,000 December 31 Paid semi-annual dividend of $2 per share for common stock and paid half of the annual dividend for preferred stock. Required: 1. On December 31, 2021, what is the dollar amount reported for common stock? 2. On December 31, 2021, what is total paid-in capital? 3. On December 31, 2021, what is ending retained earnings? 4. On December 31, 2021, what is total shareholders' equity? The shareholders equity section for Allen Corp. on December 31, 2021 appears below: Preferred Stock (S100 par, 6%, 20,000 shares authorized, issued, and outstanding) $ 2,000,000 Additional Paid-in Capital - Preferred Stock 6,600,000 Common Stock ($1 par, 5,000,000 shares authorized, 2,000,000 shares issued and outstanding) 2,000,000 Additional Paid-in Capital - Common Stock 26,000,000 Retained Earnings 89,500,000 During 2021 the following transactions occurred. January 2 Sold 50,000 shares of common stock at $17 per share April 8 Bought 40,000 shares of common stock for $15 per share and put it in treasury. June 30 Paid semi-annual dividend of S2 per share for common stock and paid half of the annual dividend for preferred stock. August 22 Sold 15,000 shares of stock in treasury for $12 per share December 31 Allen reported net income for 2021 of $17,600,000 December 31 Paid semi-annual dividend of $2 per share for common stock and paid half of the annual dividend for preferred stock. Required: 1. On December 31, 2021, what is the dollar amount reported for common stock? 2. On December 31, 2021, what is total paid-in capital? 3. On December 31, 2021, what is ending retained earnings? 4. On December 31, 2021, what is total shareholders' equity