Premierline, Inc. reported the following shareholders' equity section as of the beginning of the current year (Click the icon to view the data.) During the current year, Premierline engaged in the following transactions affecting the stockholders' equity section of its current balance sheet. Prepare all journal entries required to record the following transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) 1. Issued 200,000 shares of its 51 par value common stock at $35 per share. The underwriter charged a 5% fee for issuing the shares. The stock issue costs are not capitalized Account Current Year 2. Issued 700,000 shares of $11 par value 2% preferred stock (2,400,000 authorized) at $45 per share. These shares were privately placed and Premierline did not pay stock issue costs Account Current Year 3. Purchased 230,000 shares of common stock at $36 per share. Account Current Year 4a. Declared a 5327,000 dividend for the first half of the year. (The declarations should be recorded separately for the common and the preferred shares.) Begin by preparing the entry to record the declaration of the dividend on preferred shares. Account Current Year 4b. Declared a $327.000 dividend for the first half of the year (The declarations should be recorded separately for the common and the preferred shares.) $ Stockholders' Equity Contributed Capital: Common Stock, $1 par value, 3,825,000 authorized and 850,000 shares issued, and 821,500 shares outstanding Additional Paid-in Capital in Excess of Par - Common Total Contributed Capital Retained Earnings Accumulated Other Comprehensive Income 850,000 22,400,000 $ 23,250,000 $ 9,004,500 1,052,300 (2,050,000) Less: Treasury Stock (82,000 common shares at cost) $ 31,256,800 Total Stockholders' Equity