The stockholders' equity accounts of Monty Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 11,500 shares authorized) Common Stock ($4 stated value, 690,000 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 (11.500 common shares) $690,000 2,300,000 34,500 1,104.000 1,582.400 92,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Nov. 1 Dec. 1 Dec. 31 Issued 11,500 shares of common stock for $69,000. Purchased 2,300 additional shares of common treasury stock at $7 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 Determined that net income for the year was $644,000. Paid the dividend declared on December 1. Retained Earnings 1/1 Bal. 334650 1/1 Bal. 1582400 12/31 Bal. 644000 12/31 Bal. 1891750 Cash Dividends 10/1 48300 12/1 286350 12/31 334650 Treasury Stock 1/1 Bal. 1/1 Bal. 92000 3/20 16100 108100