following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year:

Preferred 1% Stock, $50 par (100,000 shares authorized, 81,900 shares issued) $4,095,000

Paid-In Capital in Excess of ParPreferred Stock 155,610

Common Stock, $3 par (5,000,000 shares authorized, 1,780,000 shares issued) 5,340,000

Paid-In Capital in Excess of ParCommon Stock 1,602,000

Retained Earnings 35,256,000

During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows:

Jan. 5 Issued 493,300 shares of common stock at $7, receiving cash.

Feb. 10 Issued 8,800 shares of preferred 1% stock at $60.

Mar. 19 Purchased 46,700 shares of treasury common for $7 per share.

May 16 Sold 18,400 shares of treasury common for $9 per share.

Aug. 25 Sold 4,900 shares of treasury common for $6 per share.

Dec. 6 Declared cash dividends of $0.50 per share on preferred stock and $0.08 per share on common stock.

31 Paid the cash dividends.