Current Attempt in Progress Blue Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 13%, $100 par (100,000 shares authorized, 23,000 shares issued) $2,300,000 Common stock, $1 par (1,000,000 shares authorized, 311.000 shares issued) Additional paid-in capital-common Retained earnings Total 311,000 969,000 1,390,000 $4,970,000 During 2020, Blue took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 dividend on preferred stock and a $0.50 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. 3. 4. Purchased 900 shares of its own outstanding common stock for $8 per share. Blue uses the cost method. Reissued 900 treasury shares for land with an appraised value of $10,400. Blue's common shares were trading for $8.50 per share. Issued 47,000 shares of common stock at $9 per share. Question 5 of 6 < > -/1 E During 2020, Blue took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 dividend on preferred stock and a $0.50 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 900 shares of its own outstanding common stock for $8 per share. Blue uses the cost method. 3. 4. 5. 6. Reissued 900 treasury shares for land with an appraised value of $10,400. Blue's common shares were trading for $8.50 per share. Issued 47,000 shares of common stock at $9 per share. Declared and recorded a 2:1 stock split on the outstanding common stock when the stock is selling for $10 per share. Declared the annual 2020 dividend on preferred stock and the $0.50 per share dividend on common stock. These dividends are payable in 2021. (a) ne occurred in the order presented. (Credit Prepare journal entries to record the transactions described above. Assume transactions occurred in the order presented. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation 1 Debit Credit 2. 3. 3. Question 5 of 6 5. eTextbook and Media List of Accounts : -/1