Monty Company reported the following amounts in the stockholders equity section of its December 31, 2016, balance sheet.

Preferred stock, 9%, $100 par (10,000 shares authorized, 1,800 shares issued)		$180,000
Common stock, $5 par (101,500 shares authorized, 20,300 shares issued)		101,500
Additional paid-in capital		130,000
Retained earnings		486,000
Total		$897,500

During 2017, Monty took part in the following transactions concerning stockholders equity.

1.		Paid the annual 2016 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2016.
2.		Purchased 1,800 shares of its own outstanding common stock for $41 per share. Monty uses the cost method.
3.		Reissued 700 treasury shares for land valued at $31,400.
4.		Issued 510 shares of preferred stock at $104 per share.
5.		Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $45 per share.
6.		Issued the stock dividend.
7.		Declared the annual 2017 $9 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2018.

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