P11-2A The stockholders' equity accounts of Cyrus Co as follows. on on January 1, 2017, were Preferred Stock (796, $100 par noncumulative, 5,000 sharesaut Common Stock ($4 stated value, 300,000 shares authorized) Paid-in Capital in Excess of Par Value- 1,000,000 15,000 480,000 688,000 40,000 authorized) 300,000 in Capital in Excess of Stated Value- Common Stock Preferred Stock Retained Earnings Treasury Stock (5,000 common shares) During 2017, the stockholders' on had the following transactions and events perta stockholders' equity Feb. 1 Mar: 20 Oct. 1 Issued 5,000 shares of common stock for $30,000. Purchased 1,000 additional shares of common treasury stoo Declared a 7% cash dividend on preferred stock, payable November r share ry stock at $7 pe Nov. 1 Paid the dividend declared on October 1 Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of reco rd on December 15, payable December 31, 2017. Determined that net income for the year was $280,000. Paid the dividend 31 declared on December 1