P15.3 (L01, 2, 3, 4) (Equity Transactions and Statement Preparation) Hatch 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, 150,000 shares $ 3,000,000 Common Stock, 2,000,000 shares 10,000,000 Pald-in Capital in Excess of Par-Preferred Stock 200,000 Paid-in Capital in Excess of Par--Common Stock 27,000,000 Retained Earnings 4,500,000 The following transactions affected stockholders' equity during 2021. 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. Instructions Prepare the stockholders' equity section for Hatch Company at December 31, 2021. Show all supporting computations For Prob. I changed the facts that there was a 20% stock dividend (rather than a 2:1 stock split) but omitted to include the fair market value of the stock which was $9 at the date of declaration