The stockholders' equity accounts of Whispering Winds Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 6,000 shares authorized) Common Stock ($4 stated value, 360,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (6,000 common shares) $360,000 1,200,000 18,000 576,000 825,600 48,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Nov. 1 Dec. Issued 6,000 shares of common stock for $36,000. Purchased 1,200 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31 Determined that net income for the year was $336,000. Paid the dividend declared on December 1. Dec. 31