Sandhill Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par...

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Sandhill Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 141,000 shares $ 2,820,000 Common Stock, 2,000,000 shares 10,000,000 Paid-in Capital in Excess of Par-Preferred Stock 194,000 Paid-in Capital in Excess of Par-Common Stock 26,877,000 Retained Earnings 4,562,000 The following transactions affected stockholders' equity during 2021. Jan. 1 31,500 shares of preferred stock issued at $22 per share. Feb. 1 51,100 shares of common stock issued at $19 per share. June 1 2-for-1 stock split (par value reduced to $2.50). July 1 28,600 shares of common treasury stock purchased at $11 per share. Sandhill uses the cost method. Sept. 15 9,100 shares of treasury stock reissued at $12 per share. Dec. 31 The preferred dividend is declared, and a common dividend of 50¢ per share is declared. Dec. 31 Net income is $2,090,000. Prepare the stockholders' equity section for Sandhill Company at December 31, 2021. (Enter account name only and do not provide descriptive information.) Sandhill Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 141,000 shares $ 2,820,000 Common Stock, 2,000,000 shares 10,000,000 Paid-in Capital in Excess of Par-Preferred Stock 194,000 Paid-in Capital in Excess of Par-Common Stock 26,877,000 Retained Earnings 4,562,000 The following transactions affected stockholders' equity during 2021. Jan. 1 31,500 shares of preferred stock issued at $22 per share. Feb. 1 51,100 shares of common stock issued at $19 per share. June 1 2-for-1 stock split (par value reduced to $2.50). July 1 28,600 shares of common treasury stock purchased at $11 per share. Sandhill uses the cost method. Sept. 15 9,100 shares of treasury stock reissued at $12 per share. Dec. 31 The preferred dividend is declared, and a common dividend of 50¢ per share is declared. Dec. 31 Net income is $2,090,000. Prepare the stockholders' equity section for Sandhill Company at December 31, 2021. (Enter account name only and do not provide descriptive information.)

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