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Question 3 of 6 0.81/1 E Your answer is partially correct. On January 1, 2022, Kingbird, Inc. had these stockholders' equity balances. Common Stock, $1 par (2,100,000 shares authorized, 620,000 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Income $620,000 1,440,000 680,000 55,000 During 2022, the following transactions and events occurred. 1. 2. 3. Issued 52,500 shares of $1 par value common stock for $2 per share. Issued 59,500 shares of common stock for cash at $6 per share, Purchased 23,500 shares of common stock for the treasury at $3.60 per share. Declared and paid a cash dividend of $214,000. Earned net income of $387,000. Had other comprehensive income of $17,200. 4. 5. 6. Prepare the stockholders' equity section of the balance sheet at December 31, 2022. KINGBIRD, INC. Partial Balance Sheet December 31, 2022 KINGBIRD, INC. Partial Balance Sheet December 31, 2022 Stockholders' Equity Paid-in Capital Common Stock 732000 Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Common Stock 1671000 Total Paid-in Capital Retained Earnings 853000 Total Paid-in Capital and Retained Earnings Accumulated Other Comprehensive Income 72200 Less Treasury Stock 84600 Total Stockholders' Equity e Textbook and Media