The stockholders' equity accounts of Martinez Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (5,000 common shares) Feb. 1 Issued 5,000 shares of common stock for $30,000. Mar. 20 Oct. 1 Nov. Dec. During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. 1 $300,000 Dec. 31 1,000,000 15,000 480,000 689,000 40,000 Purchased 1,000 additional shares of common treasury stock at $8 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Paid the dividend declared on December 1.

The stockholders' equity accounts of Martinez Corp. on January 1, 2022, were as follows. During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,000 shares of common stock for $30,000. Mar. 20 Purchased 1,000 additional shares of common treasury stock at $8 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. 2022. Dec. 31 Paid the dividend declared on December 1