Chapter 11 continued On January 1, 2017, Cornell Corporation had these stockholders' equity accounts. Common Stock ($10 par vakue, 70,000 shares issued, 65,000 shares outstanding) $700,000 Preferred Stock (S50 par value, 69, 10,000 shares issued & outstanding) Paid-in Capital in Excess of Par Value- Common Retained Earnings $500,000 $500,000 $620,000 During the year, the following transactions occurred Jan. 1 Declared an $.80 cash dividend per share to common stockholders of record on January 31, payable March 15. Feb. 1 issued 10,000 shares of common stock at a market price of $12. Feb. 15 Declared the required anual didend to preferred stockholders of record on Feb 20, payable March 15, 2017 Mar. 1 Issued 1,200 shares of preferred stock at the market price of $65 Mar. 15 Paid both the common stock dividends and the preferred stock dividends previously declared Journalize the transactions Date Jan. 1, 2017 Accounts Debit Credit Feb. 1, 2017 Feb 15, 2017 March 1, 2017 March 15, 2017