The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2022, were as follows. Preferred Stock (7%. $100 par noncumulative, 3,500 shares authorized) $210,000 Common Stock ($4 stated value, 210,000 shares authorized) 700,000 Paid-in Capital in Excess of Par Value-Preferred Stock 10,500 Paid-in Capital in Excess of Stated Value-Common Stock 336,000 Retained Earnings 481.600 Treasury Stock (3.500 common shares) 28,000 1 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity Feb Issued 3.500 shares of common stock for $21,000. Mar. 20 Purchased 700 additional shares of common treasury stock at 57 per share. Oct Declared a 7% cash dividend on preferred stock payable November 1. Paid the dividend declared on October 1 Dec Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31 Dec 31 Determined that net income for the year was $195.000. Paid the dividend declared on December 1. Nov. 1 1 1 Preferred Stock 1/1 Bal 210,000 12/31 Bal. 210,000 Common Stock 1/1 Bal. 700,000 2/1 V 14,000 12/31 Bal. 714,000 Paid-in Capital in Excess of Par Value-Preferred Stock 1/1 Bal. 10,500 12/31 Bal. 10.500 Paid-in Capital in Excess of Stated ValueCommon Stock 1/1 Bal 336,000 2/1 7.000 12/31 Bal. 343,000 Retained Earnings 1/1 Bal. 481.600 12/31 101.850 12/31 195,000 12/31 Bal. 574,750 Cash Dividends 10/1 14,700 12/1 87,150 12/31 101.850 12/31 Bal v 101.850 Treasury Stock 1/1 Bal. V 28.000 3/20 4.900 12/31 Bal 32.900