CM Company has two classes of capital stock: $8\%,$ $$10$ par preferred

and $$2\mathrm{.}50$ par common. At December $31,2019,$ the following

accounts were included in stockholders' equity.

Preferred Stock, $1,000,000$ shares authorized, $150,000$ shares issued

and outstanding $$1,500,000$

Common Stock, $5,000,000$ shares authorized, $2,000,000$ shares issued

and outstanding $5,000,000$

Paid$-$in Capital in Excess of Par $-$ Preferred Stock $200,000$

Paid$-$in Capital in Excess of Par $-$ Common Stock $27,000,000$

Retained Earnings $4,500,000$

The following transactions affected stockholders' equity during $2020.$

Jan. $1-30,000$ shares of preferred stock issued at $$12$ per share.

Feb. $1-100,000$ shares of common stock issued at $$11$ per share.

June $1-$ Declared a $5\%$ stock dividend on the outstanding common stock when the stock is selling for $$12\mathrm{.}50$ per share.

June $20-$ Issued the stock dividend declared on June $1.$

July $1-30,000$ shares of common treasury stock purchased at $$8$ per share.

Sept. $15-10,000$ shares of treasury stock reissued at $$9$ per share.

Dec. $31-$ The preferred dividend is declared, and a common dividend at $$0\mathrm{.}25$ per share is declared.

Dec. $31-$ Net income is $$1,050,000.$

Required:

$1.$ Prepare Journal Entries to Record the Transactions.

$2.$ Post all information into T$-$accounts.

$3.$ Prepare the stockholders' equity section for CM Company at December $31,2020.$ Show all supporting computations.