Just want the answer to question (6) and (7) with fully calculating process. Thank you!

6. B Corporation was authorized by its charter to issue 80,000 shares of 12%,$100 par cumulative preferred stock and 200,000 shares of \$ 1 par value common stock. In the first year of operations, the corporation had the following transactions : 3.2{(1)Sold50,000sharesofcommonstockfor$250,000.(2)Sold30,000sharesofpreferredstockfor$330,000 (3) Earned \$175, 000 for the sale of merchandise of which \$ $125,000 was on credit. (4) Had the expenses of \$112,500 in connection with selling the merchandise. All expenses were paid in cash. 4.2 (5) Purchased 5, 000 shares of outstanding common stock for \$ $ per share for the treasury. { (6) Declared a dividend of \$10 per share of common stock and for the amount due the preferred stock. (7) Paid the required dividends. Required: Prepare the necessary journal entries