The stockholders' equity accounts of Swifty Corporation on January 1, 2022, were as follows. Preferred Stock (8%, $100 par noncumulative, 5,000 shares authorized) $300,000 Common Stock ($4 stated value, 300,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par Value-Preferred Stock 15,000 Paid-in Capital in Excess of Stated Value-Common Stock 480,000 Retained Earnings 689,000 Treasury Stock (5,000 common shares) 40,000 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 $35,000. Mar. 20 Purchased 1,000 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 8% cash dividend on preferred stock, payable November 1. Nov. 1 Dec. 1 Dec. 31 Paid the dividend declared on October 1. Declared a $0.85 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Paid the dividend declared on December 1.