5. Boston Inc. reported the following summarized balance sheet at December 31, 2007:

Assets

Current assets $18,200

Property, Plant and Equipment 34,700

Total assets $52,900

Liabilities and Equity

Liabilities $6,200

Stockholders Equity:

5% cumulative, preferred stock, $10 par,

180 shared issued 1,800

Common stock, $1 par, 2,400 shares issued 2,400

Paid in capital in excess of par, common 23,500

Retained earnings 19,000

Total Shareholders Equity $46,700

Total liabilities and equity $52,900

During 2008, Boston completed these transactions that affected stockholders equity:

Feb. 22 Issued 1,000 shares of common stock for $16 per share.

May 4 Declared a regular cash dividend on the preferred stock

May 24 Paid the cash dividend on the preferred stock

July 9 Distributed a 10% stock dividend on the common stock. Market price of the

common stock was $18 per share.

Nov 19 Reacquired 800 shares of common stock as treasury stock, paying $14 per

share.

Dec 8 Sold 600 shares of the treasury stock for $15 per share.

a)Journalize Bostons transactions. Explanations are not required.

b)Report Bostons stockholders equity at December 31, 2008. Net income for 2008 was $62,000. Skeleton below:

Stockholders equity:
$5 cumulative preferred stock, $10 par, ? shares
issued............	$
Common stock, $1 par, ? shares issued
Paid-in capital in excess of par - common
Paid-in capital from treasury stock transactions
Retained earnings
Less: Treasury stock
Total stockholders equity	$