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Selected Stock Transactions Dlamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Diamondback Welding & Fabrication at the beginning of the current year: Preferred 2% Stock, $150 par (90,000 shares authorized, 45,000 shares issued) $6,750,000 Pald-In Capital in Excess of Par-Preferred Stock 810,000 Common Stock, $20 par (700,000 shares authorized, 190,000 shares issued) 3,800,000 Paid-In Capital in excess of Par-Common Stock 490,000 Retained Earnings 25,122,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 42,000 shares of treasury common for $21 per share. b. Sold 21,000 shares of treasury common for $24 per share. c. Issued 23,000 shares of preferred 2% stock at $162. d. Issued 70,000 shares of common stock at $25, receiving cash. e. Sold 14,000 shares of treasury common for $19 per share. 1. Declared cash dividends of $3.00 per share on preferred stock and $0.08 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. a. b. I whole will ha c. II II III III 01 N1 III d