$8,000,000 Preferred 2% Stock, $100 par (100,000 shares authorized, 80,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings 440,000 20,000,000 2,280,000 115,400,000 During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Issued 200,000 shares of common stock at $12, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $115. c. Purchased 175,000 shares of treasury common for $10 per share. d. Sold 110,000 shares of treasury common for $14 per share. e. Sold 30,000 shares of treasury common for $8 per share. 1. Declared cash dividends of $1.25 per share on preferred stock and $0.08 per share on common stock. a. Pald the cash dividends. DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS Previous Next Check My Work submit Assienment for Grading