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The stockholders' equity accounts of Sarasota Corporation on January 1, 2022, were as follows. $ 442,000 Preferred Stock ( 8%, $ 52 par, 11,000 shares authorized) Common Stock ($ 1 stated value, 1,950,000 shares authorized) 1,100,000 Paid-in Capital in Excess of Par-Preferred Stock 100,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,450,000 Retained Earnings 1,750,000 Treasury Stock ( 10,000 common shares) 40,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Apr 14 Issued 26,000 shares of common stock for $ 119,000. Sold 5,600 shares of treasury stock-common for $ 32,000. Issued 4,700 shares of common stock for a patent valued at $ 34,300. Purchased 1,000 shares of common stock for the treasury at a cost of $5,900, Sept. 3 Nov. 10 Dec. 31 Determined that net income for the year was $ 435,000. The stockholders' equity accounts of Sarasota Corporation on January 1, 2022, were as follows. $ 442,000 Preferred Stock ( 8%, $ 52 par, 11,000 shares authorized) Common Stock ($ 1 stated value, 1,950,000 shares authorized) 1,100,000 Paid-in Capital in Excess of Par-Preferred Stock 100,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,450,000 Retained Earnings 1,750,000 Treasury Stock ( 10,000 common shares) 40,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Apr 14 Issued 26,000 shares of common stock for $ 119,000. Sold 5,600 shares of treasury stock-common for $ 32,000. Issued 4,700 shares of common stock for a patent valued at $ 34,300. Purchased 1,000 shares of common stock for the treasury at a cost of $5,900, Sept. 3 Nov. 10 Dec. 31 Determined that net income for the year was $ 435,000

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