Wildhorse Tandy Company reported the following balances at December 31, 2021: common stock $522,000; paid-in capital in excess of par-common stock $222,000: retained earnings $372,000. During 2022, the following transactions affected stockholder's equity. 1. Issued preferred stock with a par value of $222,000 for $252.000 2. Purchased treasury stock (common) for $92,000. 3. Earned net income of $290,054 4. Declared and paid cash dividends of $108,000 ($38.000 preferred). Wildhorse Tandy Company reported the following balances at December 31, 2021: common stock $522,000; paid-in capital in excess of par-common stock $222,000: retained earnings $372,000. During 2022, the following transactions affected stockholder's equity. 1. Issued preferred stock with a par value of $222,000 for $252.000 2. Purchased treasury stock (common) for $92,000. 3. Earned net income of $290,054 4. Declared and paid cash dividends of $108,000 ($38.000 preferred)