Kingbird Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 2,100 shares issued) $210,000 Common stock, $5 par (99,000 shares authorized, 19,800 shares issued) 99,000 Additional paid-in capital 137,000 Retained earnings 410,000 Total $856,000 During 2020, Kingbird took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,900 shares of its own outstanding common stock for $39 per share. Kingbird uses the cost method. 3. Reissued 700 treasury shares for land valued at $31,500. 4. Issued 530 shares of preferred stock at $105 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 2020 $9 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021. Kingbird Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 2,100 shares issued) $210,000 Common stock, $5 par (99,000 shares authorized, 19,800 shares issued) 99,000 Additional paid-in capital 137,000 Retained earnings 410,000 Total $856,000 During 2020, Kingbird took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,900 shares of its own outstanding common stock for $39 per share. Kingbird uses the cost method. 3. Reissued 700 treasury shares for land valued at $31,500. 4. Issued 530 shares of preferred stock at $105 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 2020 $9 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021