b. Issued 20,000 shares of preferred 2% stock at $65. c. Purchased 42,000 shares of treasury common for $14 per share.. d. Sold 21,000 shares of treasury common for $17 per share. e. Sold 14,000 shares of treasury common for $12 per share. f. Declared cash dividends of $1 per share on preferred stock and $0.04 per share on common stock. g. Paid the cash dividends. The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $50 par (80,000 shares authorized, 40,000 shares issued) $2,000,000 Paid-In Capital in Excess of Par-Preferred Stock 400,000 Common Stock, $10 par (700,000 shares authorized, 240,000 shares issued) 2,400,000 Paid-In Capital in Excess of Par-Common Stock 310,000 Retained Earnings 10,833,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 70,000 shares of common stock at $17, receiving cash. b. Issued 20,000 shares of preferred 2% stock at $65. C. Purchased 42,000 shares of treasury common for $14 per share. d. Sold 21,000 shares of treasury common for $17 per share. e. Sold 14,000 shares of treasury common for $12 per share. f. Declared cash dividends of $1.00 per share on preferred stock and $0.04 per share on common stock. g. Paid the cash dividends. Required: Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Issued 70,000 shares of common stock at $17, receiving cash. b. Issued 20,000 shares of preferred 2% stock at $65