Hatch Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2010, the following accounts were included in stockholders’ equity.

Preferred Stock, 150,000 shares                     $ 3,000,000

Common Stock, 2,000,000 shares                   10,000,000

Paid-in Capital in Excess of Par—Preferred        200,000

Paid-in Capital in Excess of Par—Common    27,000,000

Retained Earnings                                                 4,500,000

The following transactions affected stockholders’ equity during 2011.

Jan. 1 30,000 shares of preferred stock issued at $22 per share

Feb. 1 50,000 shares of common stock issued at $20 per share

June 1 2-for-1 stock split (par value reduced to $2.50)

July 1 30,000 shares of common treasury stock purchased at $10 per share Hatch uses the cost method

Sept. 15 10,000 shares of treasury stock reissued at $11 per share

Dec. 31 The preferred dividend is declared, and a common dividend of 50¢ per share is declared.

Dec. 31 Net income is $2,100,000.

Prepare the stockholders’ equity section for Hatch Company at December 31, 2010. Show all supporting computations.