$1.$Record the issuance of $100,000$ shares of common stock for $$55$ per share.

$2.$Record the issuance of $45,000$ shares of preferred stock for $$11$ per share.

$3.$Record the purchase of $10,000$ shares of its own common stock for $$45$ per share.

$4.$Record the resale of $5,000$ shares of treasury stock for $$50$ per share.

$5.$Record the declaration of a cash dividend on its common stock of $$0\mathrm{.}75$ per share and a $$22,500(5\%$ of par value$)$ cash dividend on its preferred stock payable to all stockholders. The dividend is payable on December $30.($Hint: Dividends are not paid on treasury stock.$)$

$6.$Record the entry on December $15,$ the date of record.

$7.$Record the payment of the cash dividends declared on December $1.$