Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning...

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Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current fiscal year: Preferred 1% Stock, $50 par (100,000 shares authorized, 75,100 shares issued) Paid-In Capital in Excess of Par-Preferred Stock $3,755,000 165,220 Common Stock, $3 par (5,000,000 shares authorized, 2,020,000 shares issued) 6,060,000 Paid-In Capital in Excess of Par-Common Stock Retained Earnings 1,212,000 35,446,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Jan. 5 Issued 519,600 shares of common stock at $8, receiving cash. Feb. Mar. 10 Issued 10,800 shares of preferred 1% stock at $61. 19 Purchased 46,400 shares of treasury stock for $8 per share. May 16 Sold 20,800 shares of treasury stock for $10 per share. Aug. 25 Sold 5,600 shares of treasury stock for $7 per share. Dec. 6 Declared cash dividends of $0.50 per share on preferred stock and $0.10 per share on common stock. 31 Paid the cash dividends. Joumalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current fiscal year: Preferred 1% Stock, $50 par (100,000 shares authorized, 75,100 shares issued) Paid-In Capital in Excess of Par-Preferred Stock $3,755,000 165,220 Common Stock, $3 par (5,000,000 shares authorized, 2,020,000 shares issued) 6,060,000 Paid-In Capital in Excess of Par-Common Stock Retained Earnings 1,212,000 35,446,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Jan. 5 Issued 519,600 shares of common stock at $8, receiving cash. Feb. Mar. 10 Issued 10,800 shares of preferred 1% stock at $61. 19 Purchased 46,400 shares of treasury stock for $8 per share. May 16 Sold 20,800 shares of treasury stock for $10 per share. Aug. 25 Sold 5,600 shares of treasury stock for $7 per share. Dec. 6 Declared cash dividends of $0.50 per share on preferred stock and $0.10 per share on common stock. 31 Paid the cash dividends. Joumalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles.