Can someone please help me to understand this? The stockholders' equity accounts of Sigma Corporation on January 1, 2010, were as follows. Preferred Stock (8%, $100 par noncumulative, 5,400 shares authorized) $324,000 Common Stock ($5 stated value, 303,000 shares authorized) 1,090,000 Paid-in Capital in Excess of Par Value - Preferred Stock 18,570 Paid-in Capital in Excess of Stated Value - Common Stock 482,820 Retained Earnings 692,430 Treasury Stock - Common (5,400 shares) 43,200 During 2010 the corporation had these transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,400 shares of common stock for $32,400. Mar. 20 Purchased 1,130 additional shares of common treasury stock at $10 per share. Oct. 1 Declared a 8% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31, 2010. Dec. 31 Determined that net income for the year was $281,483. Paid the dividend declared on December 1. Journalize the transactions. (Include entries to close net income to Retained Earnings. List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)