The stockholders' equity section of Splish Brothers Corporation at December 31 is as follows. SPLISH BROTHERS CORPORATION Balance Sheet (partial) Stockholders' equity Paid-in capital Preferred stock, 10,000 shares authorized, 4,500 shares issued and outstanding $315,000 Common stock, no par, 750,000 shares authorized. 320,000 shares issued 1,600,000 Total paid-in capital 1,915,000 Retained earnings 2,080,000 Total paid-in capital and retained earnings 3,995.000 Less: Treasury stock (5,700 common shares) (69,000) Total stockholders' equity $3,926,000 From a review of the stockholders' equity section, answer the following questions.