The stockholders' equity accounts of Riverbed Corporation on January 1, 2020, were as follows. Preferred Stock (8%, $50 par, 10,500 shares authorized) $425,000 Common Stock ($1 stated value, 2,100,000 shares authorized) 1,500,000 Paid-in Capital in Excess of Par-Preferred Stock 110,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,450,000 Retained Earnings 1,850,000 Treasury Stock (10,000 common shares) 50,000 During 2020, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 26,000 shares of common stock for $122,000. Apr. 14 Sold 5,700 shares of treasury stock-common for $33,700. Sept. 3 Issued 5,100 shares of common stock for a patent valued at $34,700. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,700. Dec. 31 Determined that net income for the year was $480,000. No dividends were declared during the year.