Madrid Jewelry Company reported the following summarized balance sheet at December 31, 2018:

Assets
Current assets..................................................................... $ 33,400
Property and equipment, net ............................................ 106,600
Total assets......................................................................... $140,000
Liabilities and Equity
Liabilities ............................................................................. $ 37,000
Stockholders’ equity:
$0.80 cumulative preferred stock, $10 par,
400 shares issued.................................................................. 4,000
Common stock, $9 par, 6,500 shares issued.................... 58,500
Paid-in capital in excess of par—common ...................... 18,500
Retained earnings................................................................ 22,000
Total liabilities and equity............................................... $140,000

During 2019, Madrid Jewelry completed these transactions that affected stockholders’ equity:

Requirements

1. Journalize Madrid Jewelry’s transactions. Explanations are not required.

2. Prepare the company’s stockholders’ equity section of the balance sheet at December 31, 2019. Net income for 2019 was $30,000.

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Feb 13 Issued 5,300 shares of common stock for $12 per share. Declared the regular cash dividend on the preferred stock. 24 Jun Paid the cash dividend. Declared and distributed a 20% stock dividend on the common stock. Market price of the common stock was $17 per share. Reacquired 700 shares of common stock as treasury stock, paying $20 per share. Sold 300 shares of the treasury stock for $24 per share. Declared a cash dividend of $0.25 per share on the outstanding common stock; dividends will be paid in January, 2020. Aug Oct 26 Nov 20 Dec 31