The stockholders' equity accounts of Grouper Corp. on January 1,2025 , were as follows. During 2025 , the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 8,500 shares of common stock for $51,000. Mar. 20 Purchased 1,700 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 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 Dec. 31 Determined that net income for the year was $477,000. Paid the dividend declared on December 1. Paid-in Capital in Excess of Stated Value-Common Stock 1/1Bal 816000 \begin{tabular}{|r|} \hline 17000 \\ \hline 827900 \\ \hline \end{tabular} Retained Earnings 59500 1/1Bal 1169600 Cash Dividends \begin{tabular}{|} \hline 59500 \\ \hline \end{tabular} \begin{tabular}{|r||} \hline 254150 \\ \hline \\ \hline \end{tabular} Treasury Stock 68000