Exercise 15-18 (Part Level Submission) Ayayai Company reported the following amounts in the stockholders' equity section of its December 31, 2016, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 2,000 shares issued) 200,000 Common stock, 5 par (110,000 shares authorized, 22,000 shares issued) Additional paid-in capital Retained earnings 110,000 132,000 419,000 861,000 Total During 2017, Ayayai took part in the following transactions concerning stockholders' equity 1. Paid the annual 2016 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2016. 2. Purchased 1,700 shares of its own outstanding common stock for $41 per share. Ayayai uses the cost methad 3. Reissued 600 treasury shares for land valued at $28,400 . Issued 480 shares of preferred stock at s103 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $44 per share. 6. Issued the stock dividend 7. Declared the annual 2017 s10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2018