Common stock- $20 par value, 100,000 shares authorized, 45,000 shares issued and outstanding Pald-In capital in excess of par value, common stock Retalned earnings $ 900,000 60,000 370,000 Total stockholders' equity $1,330,000 n year 2016, the following transactions affected Its stockholders' equity accounts ffected ts stockholders equty accounts Purchased 5,500 shares of its own stock at $25 cash per share. Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Pald the dividend declared on January 5. Sold 2.063 of its treasury shares at $29 cash per share Sold 3.437 of Its treasury shares at $22 cash per share Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record Pald the dividend deciared on September 5 Closed the $368,000 credit balance (from net income) in the Income Summary account to Retained Earnings Jan. 1 5 Jan. Feb. 28 July 6 Aug. 22 Sept 5 Oct. 28 Dec. 31 References