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Selected Stock Transactions Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Tilinois. The following selected accounts appear in the ledger of Diamondback Welding & Fabrication at the beginning of the current year: Preferred 2% Stock, $125 par (40,000 shares authorized, 20,000 shares issued) $2,500,000 Pald-In Capital in Excess of Par-Preferred Stock 300,000 Common Stock, $10 par (600,000 shares authorized, 310,000 shares issued) 3,100,000 Pald-in Capital in Excess of Par-Common Stock 400,000 Retained Earnings 13,356,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 36,000 shares of treasury common for $11 per share. b. Sold 18,000 shares of treasury common for $14 per share. c. Issued 10,000 shares of preferred 2% stock at $145. d. Issued 60,000 shares of common stock at $16, receiving cash. e. Sold 12,000 shares of treasury common for $9 per share. 1. Declared cash dividends of $2.50 per share on preferred stock and $0.10 per share on common stock. 9. Paid the cash dividends. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank Treasury Stock 395.000 Cash 396.000 b Cash 252.000 Treasury Stock 2.250.000 X Cash 396,000 b Cash 149,000 V Treasury Stock 2,250,000 X d