Anne Cleves Company reported the following amounts in the stockholders equity section of its December 31, 2013, balance sheet.

Preferred stock, 11%, $100 par (10,000 shares authorized, 2,470 shares issued)		$247,000
Common stock, $5 par (126,500 shares authorized, 25,300 shares issued)		126,500
Additional paid-in capital		132,800
Retained earnings		459,600
Total		$965,900

During 2014, Cleves took part in the following transactions concerning stockholders equity.

1.		Paid the annual 2013 $11 per share dividend on preferred stock and a $4 per share dividend on common stock. These dividends had been declared on December 31, 2013.
2.		Purchased 1,600 shares of its own outstanding common stock for $39 per share. Cleves uses the cost method.
3.		Reissued 670 treasury shares for land valued at $34,320.
4.		Issued 520 shares of preferred stock at $105 per share.
5.		Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $45 per share.
6.		Issued the stock dividend.
7.		Declared the annual 2014 $11 per share dividend on preferred stock and the $4 per share dividend on common stock. These dividends are payable in 2015.

(a) 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 0 for the amounts.)

(b) Prepare the December 31, 2014, stockholders equity section. Assume 2014 net income was $343,500. (Enter account name only .Do not provide any descriptive information.)