Pronghorn corp. has been authorized to issue 20,200 shares of $100 par value, 7%, noncumulative preferred stock and 1,120,000 shares of no-par common stock. the corporation assigned a $4 stated value to the common stock. at december 31, 2017, the ledger contained the following balances pertaining to stockholders’ equity. preferred stock $152,000 paid-in capital in excess of par value—preferred stock 21,200 common stock 1,970,000 paid-in capital in excess of stated value—common stock 1,530,000 treasury stock (4,200 common shares) 37,800 retained earnings 81,600 accumulated other comprehensive income 49,200 the preferred stock was issued for $173,200 cash. all common stock issued was for cash. in november 4,200 shares of common stock were purchased for the treasury at a per share cost of $9. no dividends were declared in 2017.