Exercise 15-18 (Part Level Submission) Blue 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) S200,000 107,000 127,000 491,000 $925,000 Common stock, $5 par (107,000 shares authorized, 21,400 shares issued) Additional paid-in capital Retained earnings Total During 2017, Blue took part in the following transactions concerning stockholders' equity. dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2016. 2. Purchased 1,800 share es of its own outstanding common stock for $41 per share. Blue uses the cost method 3. Reissued 800 treasury shares for land valued at $33,700 4. Issued 520 shares of preferred stock at $105 per share 5. Decl lared a 10% stock dividend on the outstanding common stock when the stock is seling for $44 per share. 6. Issued the stock dividend. 7. Dedlared the anrual 2017 $10 per share dividend on preferred stock and the $2 per share dividends are payable in 2018. Prepare journal entries to record the transactions described above. (Credit account titles are automat is entered. Do not indent ically indented when amount If no entry is required, select "No Entry" for the account titles and enter 0 for the No. eenunt USE YOUR SMARTPHON