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The stockholders' equity accounts of Flounder Corp. on January 1.2022 were as follows. Preferred Stock (7%, $100 par noncumulative. 7.500 shares authorized) $450,000 Common Stock ($4 stated value, 450,000 shares authorized) 1.500,000 Paid in Capital in Excess of Par Value-Preferred Stock 22,500 Paid-in Capital in Excess of Stated Value--Common Stock 720,000 Retained Earnings 1,032,000 Treasury Stock (7.500 common shares) 60,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders equity. Feb. 1 Mar. 20 Oct. 1 Issued 7,500 shares of common stock for $45.000 Purchased 1,500 additional shares of common treasury stock at 57 per share. Declared a 7% cash dividend on preferred stock payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2 Determined that net income for the year was $420.000. Paid the dividend declared on December 1.. Nov. 1 Dec 1 Dec 31 CUIS Question 8 of 8 5.68 / 10 II! Prepare the stockholders' equity section of the balance sheet at December 31, 2022. FLOUNDER CORP. Partial Balance Sheet December 31, 2022 ilders' Equity Capital Stock red Stock $ 450.000 on Stock 1.530.000 Capital Stock 1,980,000 nal Paid-in Capital Capital in Excess of Par Value Preferred Stock 22.500 Capital in Excess of Stated Value-Common Stock 7.215.000 ssignment 5.68 / 10

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