- 125 E Blue Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. $180,000 Preferred stock, 9%, $100 par (10,000 shares authorized, 1.800 shares issued) Common stock, $5 par (92,000 shares authorized, 18,400 shares issued) Additional pald-in capital 92.000 112.000 Retained earnings 462.000 Total $846,000 During 2020, Blue took part in the following transactions concerning stockholders equity. 1 2. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. Purchased 1,500 shares of its own outstanding common stock for $44 per share. Blue uses the cost method. Reissued 700 treasury shares for land valued at $31.700. Issued 540 shares of preferred stock at $106 per share. 3. 4. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $43 per share. 6. Issued the stock dividend. 7 Declared the annual 2020 $9 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021. Prepare journal entries to record the transactions described above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) -/25 No. Account Tities and Explanation 1 Debit Credit 2 > 3. 4. 5 HW 2-Chapter 15 question Question 2 of 19 > -/25 111 4 > 3 > 5. C 6. > 7.