View Policies Current Attempt in Progress Bridgeport Corporation has been authorized to issue 21,000 shares of $100 par value, 10%, preferred stock and 993,600 shares of no-par common stock. The corporation assigned a $2.40 stated value to the common stock. At December 31, 2022, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock $110,000 Paid-in Capital in Excess of Par-Preferred Stock 30,000 Common Stock 993,600 Paid-in Capital in Excess of Stated Value-Common Stock 1,490,400 Treasury Stock (1,200 common shares) 13,200 Paid-in Capital from Treasury Stock 1,800 Retained Earnings 81,000 The preferred stock was issued for land having a fair value of $140,000. All common stock issued was for cash. In November, 1,800 shares of common stock were purchased for the treasury at a per share cost of $11. In December, 600 shares of treasury stock were sold for $14 per share. No dividends were declared in 2022.