The stockholders' equity accounts of Flounder Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative. 7,500 shares authorized) $450,000 Common Stock ($4 stated value, 450,000 shares authorized) 1,500,000 Paid-in Capital in Excess of Par Value-Preferred Stock 22,500 Paid-in Capital in Excess of Stated Value-Common Stock 720,000 Retained Earnings 1,032,000 Treasury Stock (7,500 common shares) 60,000 During 2022. the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 7,500 shares of common stock for $45.000 Mar. 20 Purchased 1.500 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Oct. 1 Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15. payable December 31, 2 Determined that net income for the year was $430,000. Pald the dividend declared on December 1 Dec. 31 FLOUNDER CORP. Partial Balance Sheet $ Save for Later Attempts: 0 of 3 used Submit