Bridgeport Company reported the following amounts in the stockholders equity section of its December 31, 2016, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (103,500 shares authorized, 20,700 shares issued) 103,500 Additional paid-in capital 114,000 Retained earnings 423,000 Total $820,500 During 2017, Bridgeport took part in the following transactions concerning stockholders equity. 1. Paid the annual 2016 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2016. 2. Purchased 1,500 shares of its own outstanding common stock for $43 per share. Bridgeport uses the cost method. 3. Reissued 600 treasury shares for land valued at $27,100. 4. Issued 550 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 $41 per share. 6. Issued the stock dividend. 7. Declared the annual 2017 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2018. Part 1 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.) No. Account Titles and Explanation Debit Credit 1. enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount 2. enter an account title to record the second transaction enter a debit amount enter a credit amount enter an account title to record the second transaction enter a debit amount enter a credit amount 3. enter an account title to record the third transaction enter a debit amount enter a credit amount enter an account title to record the third transaction enter a debit amount enter a credit amount enter an account title to record the third transaction enter a debit amount enter a credit amount 4. enter an account title to record the fourth transaction enter a debit amount enter a credit amount enter an account title to record the fourth transaction enter a debit amount enter a credit amount enter an account title to record the fourth transaction enter a debit amount enter a credit amount 5. enter an account title to record the fifth transaction enter a debit amount enter a credit amount enter an account title to record the fifth transaction enter a debit amount enter a credit amount enter an account title to record the fifth transaction enter a debit amount enter a credit amount 6. enter an account title to record the sixth transaction enter a debit amount enter a credit amount enter an account title to record the sixth transaction enter a debit amount enter a credit amount 7. enter an account title to record the seventh transaction enter a debit amount enter a credit amount enter an account title to record the seventh transaction enter a debit amount enter a credit amount enter an account title to record the seventh transaction enter a debit amount enter a credit amount eTextbook and Media List of Accounts Attempts: 0 of 15 used Save for LaterSubmit Answer Part 2 Prepare the December 31, 2017, stockholders equity section. Assume 2017 net income was $336,000. (Enter account name only. Do not provide any descriptive information.) BRIDGEPORT COMPANY Stockholders Equity choose the accounting period select an opening name for subsection one enter a balance sheet item $ enter a dollar amount enter a balance sheet item enter a dollar amount select a closing name for subsection one enter a subtotal of the two previous amounts select a name of the subordinate part of the subsection two enter a dollar amount select a closing name for subsection two enter a subtotal of the two previous amounts enter a balance sheet item enter a dollar amount select a summarizing line for this part of the statement enter a subtotal amount for this part of the statement select between addition and deduction : enter a balance sheet item enter a dollar amount select a closing section name $ enter a total amount for this section eTextbook and Media