The stockholders' equity accounts of Sarasota Corp. on January $1,2022,$ were as follows. Preferred Stock $(7\%,$ $$100$ par noncumulative, $3,000$ shares authorized$)$ $$180,000$ Common Stock $($$$4$ stated value, $180,000$ shares authorized$)600,000$ Paid$-$in Capital in Excess of Par Value$-$Preferred Stock $9,000$ Paid$-$in Capital in Excess of Stated Value$-$Common Stock $288,000$ Retained Earnings $412,800$ Treasury Stock $(3,000$ common shares$)24,000$ During $2022,$ the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. $1$ Issued $3,000$ shares of common stock for $$18,000.$ Mar. $20$ Purchased $600$ 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\mathrm{.}50$ per share cash dividend to common stockholders of record on December $15,$ payable December $31,$ Dec. $31$ Determined that net income for the year was $$170,000.$ Paid the dividend declared on December $1.$ Journalize the transactions. $($Include entries to close net income and dividends to Retained Earnings.$)($Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. Round answers to $0$ decimal places, e$.$g$.5,275.)$ Date Account Titles and Explanation Debit Credit Feb. $14.$ Cash $18000$ Common Stock $12000$ Paid$-$in Capital in Excess of Stated Value$-$Common Stock $6000$ Mar. $20$ Treasury Stock $4200$ Cash $42004200$ Oct $1$ : Cash Dividends $12600$ Dividends Payable $12600$ Nov. $1$ Dividends Payable $12600$ Cash $12600$ Dec. $14$ Cash Dividends $74700$ Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. $($Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.$)$ Preferred Stock $1/1$ Bal. A $180000$ C D $12/31$ bal. $=180000$ Common Stock $1/1$ Bal. $46000002/11200012/31$ Bal. $4612000$ Paid$-$in Capital in Excess of Par ValuePreferred Stock $1/1$ Bal. $21/1$ Bal. $900012/31$ Bal. $9000$ Paid$-$in Capital in Excess of Stated Value$-$Common Stock $1/1$ B$.2880002/1600012/31$ Bal. $4294000$ Retained Earnings $873001/1$ Bal. $441280012/31|17000012/31$ Bal. $495500$ Cash Dividends $10/11260012/31-8730012/197470012/31$ Bal. Prepare the stockholders' equity section of the balance sheet at December $31,2022.$ SARASOTA CORP. Partial Balance Sheet December $31,2022$ ckholders' Equity d$-$in Capital pital Stock vital Stock $-$ ommon Stock $612000$ 'referred Stock $180000$ al Capital Stock $792000$ ditional Paid$-$in Capital 'aid$-$in Capital in Excess of Par Value$-$Preferred Stock $9000$ 'aid$-$in Capital in Excess of Stated Value$-$Common Stock $294000$ al Additional Paid$-$in Capital $303000$ al Paid$-$in Capital $1095000$ Retained Earnings $495500$ al Paid$-$in Capital and Retained Earnings $|159050054$: Treasury Stock $28200$ al Stockholders' Equity $1562300$