Bonita Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 10 %, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (108,000 shares authorized, 21,600 shares issued) Additional paid-in capital Retained earnings Total 108,000 119,000 419,000 $846,000 During 2020, Bonita took part in the following transactions concerning stockholders' equity. 1. 2. Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. Purchased 1,700 shares of its own outstanding common stock for $41 per share. Bonita uses the cost method.