Exercise 15-18 (Part Level Submission) Oriole Company reported the following amounts in the stockholders' equity section of its December 31, 2016, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1,900 shares issued) $190,000 Common stock, $5 par (98,000 shares authorized, 19,600 shares issued) Additional paid-in capital Retained earnings 98,000 117,000 470,000 $875,000 Total During 2017, Oriole took part in the following transactions concerning stockholders' equity 1. Paid the annual 2016 $9 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 $37 per share. Oriole uses the cost method 3. Reissued 700 treasury shares for land valued at $29,500. 4. Issued 450 shares of preferred stock at $104 per share. 5, Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $47 per share. 6. Issued the stock dividend 7. Declared the annual 2017 $9 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2018