Blue Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 2,000 shares issued) Common stock, $5 par (102,000 shares authorized, 20,400 shares issued) Additional paid-in capital Retained earnings Total $200,000 102,000 120,000 495,000 $917,000 During 2020, Blue took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,700 shares of its own outstanding common stock for $41 per share. Blue uses the cost method. 3. Reissued 600 treasury shares for land valued at $30,400. 4. Issued 480 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 $44 per share. Issued the stock dividend. 6. 7. Declared the annual 2020 $9 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021. No. Account Titles and Explanation 1. 2. 3. 4. 5. 6. 7. < > > > < Debit Credit > > > > > > > > > > < >