On December 31, 2024, Pharah Company had 1,265,000 shares of $5 par common stock issued and outstanding. At December 31, 2024, stockholders' equity had the amounts listed here.

On December 31, 2024, Pharoah Company had 1,265,000 shares of \$5 par common stock issued and outstanding. At December 31 , 2024, stockholders' equity had the amounts listed here. Transactions during 2025 and other information related to stockholders' equity accounts were as follows. 1. On January 10 , issued at $113 per share 124,000 shares of $100 par value, 8% cumulative preferred stock. 2. On February 8 , reacquired 18,700 shares of its common stock for $15 per share. 3. On May 9, declared the yearly cash dividend on preferred stock, payable June 10, to stockholders of record on May 31. 4. On June 8, declared a cash dividend of $1.55 per share on the common stock outstanding, payable on July 10 to stockholders of record on July 1. 5. Net income for 2025 was $3,639,000. Date Account Titles and Explanation Debit Credit Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Cash Dividends Payable Dividends Payable Jun. 10 Dividends Payable Cash Jul. 10 Dividends Payable Cash Dec.31 Income Summary Retained Earnings (To close net income) Dec. 31v Retained Earnings Cash Dividends (To close cash dividends)