Corporate Accounting Comprehensive Case Study B The following selected accounts appear in the ledger of Davis Publishing Corporation on January 1, 2019, the beginning of the current fiscal year: Preferred 2% Stock, $40 par (50,000 shares authorized, 30,000 shares issued) - $1,200,000 Paid-In Capital in Excess of Par (Preferred Stock) - $510,000 Common Stock, $15 par (100,000 shares authorized, 60,000 shares issued) - $900,000 Paid-In Capital in Excess of Par (Common Stock) - $450,000 Retained Earnings - $6,150,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 15,000 shares of common stock at $21, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $53. c. Purchased 5,000 shares of treasury common for $95,000. d. Sold 3,000 shares of treasury common for $66,000. e. Sold 1,000 shares of treasury common for $20,000. f. Declared cash dividends for $1 per share on preferred stock and $0.75 per share on common stock. g. Paid the cash dividends. Journalize the transactions.