1. a. Sold 2,700 shares of $50 par value preferred stock at $53.50 per share.
2. b. Declared the annual cash dividend of $3.70 per share on common stock. There were 7,300 shares of $1 par value common stock issued and outstanding throughout the year.
3. c. Issued 5,000 shares of $50 par value preferred stock in exchange for a building when the market price of preferred stock was $53 per share
4. d. Purchased 1,400 shares of preferred stock for the treasury at a price of $56 per share.
5. e. Sold 500 shares of the preferred stock held in treasury (seed) for $57 per share.
6. f.
   

value: _ Required Information 2.00 palnts Requlred: Show the eeot [it any) of eam of the above transactions on eam nancial statement category by selecting a plus (4-) or minus () sign and the emount in the appropriate mlumn. Do not show items that alfect net income in the retained earnings column. 5 wine: _ Requlrer ' 3.00 pornts Prepare the joun'ral entries to record each ofthe above transactions. (If no entry la requlred for a transactionfevent. select "Ho journal entry requlred" In the first: account fleld.) View Iransaction lisl Journal entry worksheet Record the sale of 2,700 shares $50 par value preferred stock at: $53.50 per share. Note: Enber debits before credits. Record entry Clearentry View generaljournal