Nicole has been financing Nicoles Getaway Spa (NGS) using equity financing. Currently NGS has authorized 100,000 no-par preferred shares and 200,000 $2 par common shares. Outstanding shares include 55,000 preferred shares and 45,000 common shares.

Recently the following transactions have taken place.

a.	NGS issues 1,250 preferred shares for $13 a share.
b.	NGS repurchases 1,250 common shares for $12 a share.
c.	On November 12, the board of directors declares a $0.10 cash dividend on each outstanding preferred share.
d.	The dividend is paid December 20. Record the de declaration of a $0.10 cash dividend on the shares of preferred stock outstanding. Record the payment of the cash dividend to the preferred shareholders.