Question: On December 3 1 , 2 0 2 1 , Cullumber Company had 1 , 2 7 5 , 0 0 0 shares of

On December 31,2021, Cullumber Company had 1,275,000 shares of \(\$ 5\) par common stock issued and outstanding. At December 31,2021, stockholders' equity had the amounts listed here.
Transactions during 2022 and other information related to stockholders' equity accounts were as follows.
1. On January 10,2022, issued at \(\$ 114\) per share 128,000 shares of \(\$ 102\) par value, \(8\%\) cumulative preferred stock.
2. On February 8,2022, reacquired 13,700 shares of its common stock for \(\$ 14\) per share.
3. On May 9,2022, declared the yearly cash dividend on preferred stock, payable June 10,2022, to stockholders of record on May 31,2022.
4. On June 8,2022, declared a cash dividend of \(\$ 1.25\) per share on the common stock outstanding, payable on July 10,2022, to stockholders of record on July 1,2022.
5. Net income for the year was \(\$ 3,683,000\). Prepare the stockholders' equity section of Cullumber balance sheet at December 31,2022.
CULLUMBER COMPANY
Partial Balance Sheet
December 31,2022
Paid-in Capital
Capital Stock
Common Stock
Preferred Stock
Paid-in Capital in Excess of Par Value-Preferred Stock
Paid-in Capital in Excess of Par Value-Common Stock
Retained Earnings
Total Paid-in Capital and Retained Earnings
Treasury Stock
 On December 31,2021, Cullumber Company had 1,275,000 shares of \(\$ 5\)

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