The Stockholder’s Equity accounts of a corporation on January 1, 2022, were as follows: Preferred Stock (5%, $10 par, cumulative, 5,000 shares authorized) $49,000 Common Stock ($5 par, 500,000 shares authorized) 1,050,000 Additional Paid in Capital – Preferred 288,120 Additional Paid in Capital – Common 3,108,000 Retained Earnings 1,199,800 During 2022, the corporation had the following transactions and events relating to its Stockholders Equity: Jan. 2 Purchased 3,500 shares of its own common stock to add to the Treasury at a cost of $75,250. Feb. 21 Issued 14,000 shares of common stock in exchange for a building. On the date of the exchange, the FMV of the building was $296,800 and the stock was trading at $20.25 per share. Mar. 21 Sold 1,400 shares of treasury stock – common for $24 per share. Nov. 14 Issued 700 shares of preferred stock for $50,400 Dec. 31 Determined that net income for the year was $316,400. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common stockholders of record as of December 20. There are no dividends in arrears. What is total stockholder’s equity as of December 31, 2022? Select one: a. $6,256,390 b. $6,258,490 c. $6,254,290 d. $6,303,570 e. $6,346,690
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