he stockholders equity accounts of Monty Corp. on January 1, 2017, were as follows.

Preferred Stock (6%, $100 par noncumulative, 4,900 shares authorized)		$294,000
Common Stock ($3 stated value, 335,000 shares authorized)		837,500
Paid-in Capital in Excess of Par ValuePreferred Stock		14,700
Paid-in Capital in Excess of Stated ValueCommon Stock		536,000
Retained Earnings		695,000
Treasury Stock (4,900 common shares)		39,200

During 2017, the corporation had the following transactions and events pertaining to its stockholders equity.

Feb.	1		Issued 5,310 shares of common stock for $37,170.
Mar.	20		Purchased 1,300 additional shares of common treasury stock at $9 per share.
Oct.	1		Declared a 6% cash dividend on preferred stock, payable November 1.
Nov.	1		Paid the dividend declared on October 1.
Dec.	1		Declared a $0.70 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017.
Dec.	31		Determined that net income for the year was $278,600. Paid the dividend declared on December 1.

c. Enter the beginning balances in the accounts and post the journal entries to the stockholders equity accounts.