View Policies Current Attempt in Progress The stockholders' equity accounts of Flint Corporation on January 1, 2025, were as follows. Preferred Stock (7 %, $100 par noncumulative, 9,000 shares authorized) $540,000 Common Stock ($4 stated value, 540,000 shares authorized) 1.800.000 Paid-in Capital in Excess of Par-Preferred Stock 27,000 Paid-in Capital in Excess of Stated Value-Common Stock 864,000 Retained Earnings Treasury Stock (9,000 common shares) During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. 1,238,400 72,000 Feb. 1 Issued 9,000 shares of common stock for $54,000. Mar. 20 Purchased 1,800 additional shares of common treasury stock at $7 per share Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1 Nov. 1 Dec. 1 Dec. 31 Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2 Determined that net income for the year was $505,000. Paid the dividend declared on December 1