eBook Show Me How Calculator Chart of Journal The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year Preferred 2% Stock, $75 par (100,000 shares authorized, 80,000 shares issued) Paid-In Capital in Excess of Par Preferred Stock Common Stock, $8 par (5,000,000 shares authorized, 3,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings $6,000,000 420,000 24,000,000 1,850,000 115,400,000 stockholders eguty They are summarized as follows During the year, the corporation completed a number of transactions affecting the Jan. 5 Issued 400,000 shares of common stock at $11, receiving cash. Feb. 10 issued 5,000 shares of preferred 2% stock at S90 Mar 19 Purchased 150,000 shares of treasury common for $10 per share May 16 Sold 80,000 shares of treasury common for $13 per share. Aug. 25 Sold 20,000 shares of treasury common for $9 per share Dec. 6 Declared cash dividends of $1.50 per share on preferred stock and S0.06 per share on common stock 31 Paid the cash dividends Check My Work