The stockholders' equity accounts of Sarasota Corporation on January 1, 2022, were as follows. Preferred Stock ( 8%, $ 52 par, 11,000 shares authorized) $ 442,000 Common Stock ($ 1 stated value, 1,950,000 shares authorized) 1,100,000 100,000 1,450,000 Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (10,000 common shares) 1,750,000 40,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Apr. 14 Sept. 3 Issued 26,000 shares of common stock for $ 119,000, Sold 5,600 shares of treasury stock-common for $ 32,000. Issued 4,700 shares of common stock for a patent valued at $ 34,300, Purchased 1,000 shares of common stock for the treasury at a cost of $ 5,900. Determined that net income for the year was $ 435,000. Nov. 10 Dec. 31