CAPITAL STOCK TRANSACTIONS The balances in the stockholders' equity accounts of Waters Corporation on January 1, 2017 were: 10%, Preferred Stock ($100 par, noncumulative, 7,500 shares authorized) $ 207,500 Paid-in Capital in Excess of Par Value - Preferred Stock $ 60,000 Common Stock ($10 par value, 350,000 shares authorized) $ 654,000 Paid-in Capital in Excess of Par Value - Common Stock $ 1,470,000 Retained Earnings $ 332,000 Treasury Stock - Common (10,400 shares) $ 124,800 During 2017, the corporation had the following transactions related to equity: Note: post the journal entries after each transaction. NUMBER OF COMMON SHARES ISSUED TREASURY OUTSTANDING 65,400 10,400 55,000 Jan. 1 Feb. 8 Beginning shares Issued 40,000 shares of common stock at $14 per share. Mar. 22 Purchased 17,000 additional shares of treasury stock at $12 per share. May 3 Sold 14,000 shares of treasury stock at $13 per share. INON Jul. 28 Declared a 5% stock dividend when stock's market price is $11 per share. Aug. 15 Issued shares from stock dividend on July 28. Sept. 13 Declared a $.25 per share cash dividend on common stock. Oct. 1 Paid cash dividends declared on Sept. 13. Nov. 25 Sold 12,400 shares of treasury stock at $9 per share. Nov. 30 Announced a 2:1 stock split and sent new shares of stock to existing stockholders. 000 Dec. 15 Issued 10,000 shares of common stock for $8 per share. Dec. 20 Declared the regular cash dividend on preferred stock. Dec. 28 Paid cash dividends declared on December 20th. Dec. 31 Determined that the net income for the year was $196,000; closed Income Summary Dec. 31 Ending shares