The stockholders' equity accounts of Tamarisk, Inc. on January 1, 2022, were as follows. Preferred Stock (9%, $100 par noncumulative, 5,000 shares authorized) $365,000 Common Stock ($10 stated value, 800,000 shares authorized) 1,590,000 Paid-in Capital in Excess of Par Value-Preferred Stock 67,000. Paid-in Capital in Excess of Stated Value-Common Stock 800,000 Retained Earnings 770,000 Treasury Stock (7,200 common shares) 57,600 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Mari 1 Issued 6,600 shares of common stock for $90 per share. June 22 Purchased 1,300 additional shares of common treasury stock at $11 per share. Sept. 1 Oct. 1 Declared a 9% cash dividend on preferred stock, payable October 1. Dec. 1 Paid the dividend declared on September 1. Declared a $0.60 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. 31 Determined that net income for the year was $120,000. Paid the dividend declared on December 1.