Chart of Accounts Journal Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year Preferred 1% Stock, 350 par (100.000 shares authorized, 79,600 shares issued) Paid-In Capital in Excess of ParPreferred Stock Common Stock, 53 par (5,000 000 shares authorized. 1.870.000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings $3,980,000 159,200 5,610 000 1.215,500 31,497,000 During the year, the corporation completed a number of transactions affecting the stockholders equily. They are summarized as follows: 3. Issued 532.900 shares of common stock at 59, receiving cash, b. Issued 11,000 shares of preferred 1% stock at 558. Purchased 45,400 shares of treasury common for 58 per share d Sold 21 400 shares of treasury common for $10 per share Sold 4.300 shares of treasury common for 57 per share Declared cash dividends of 50 50 per share on preferred stock and 5007 per share on common stock 0 Paid the cash dividends All work avec