Problem 11 2A (Part Level Submission) The stockholders equity accounts of Sarasota Corp on January 1, 2017, were as follows. Preferred Stock (646.100 par noncumulative, 5,000 shares authorized) Comman Stnck ($4 stated value, 300,00o shares authorized) Pald-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Eamings Treasury 5tock (5,000 common shares) S300,000 15,000 430.000 ,5u0 40.000 During 2017, the corporation had the following transactlons and events pertaining to is stockholders equity, Feb. 1 Issued 5,000 shares ot commen stock for $30,000. Mar. 20 Purchased 1,000 additional shares of common treasury stock at $9 per share Oct. 1 Declared a cash dividend on preferred stock, payable November 1. Nov. Paid the dividend declared on October 1 Dec. 1 Declared a $0.75 per share cash dividend to common stockhclders of record on December 15, payable December 31, 2017. Dec. 31 Determined that net income for the year was $23,50D. Paid the dividend declared on Deccmber 1. lournalize the transactions. (Include entries to clase net income and dividends to Retained Farnings.) (Record entries in the order displayed in the problea statement. Credit aceount tirles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to 0 decial places, e.g. 5,275.)