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Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Diamondback Welding &
Diamondback Welding \& Fabrication Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Diamondback Welding \& Fabrication at the beginning of the current year: During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 36,000 shares of treasury common for $20 per share. b. Sold 18,000 shares of treasury common for $23 per share. c. Issued 8,000 shares of preferred 2% stock at $67. d. Issued 60,000 shares of common stock at $19, receiving cash. e. Sold 12,000 shares of treasury common for $18 per share. f. Declared cash dividends of $1.00 per share on preferred stock and $0.06 per share on common stock. g. Paid the cash dividends. a. b. C. d. e. f. g
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