Problem 11-2A (Part Level Submission) The stockholders' equity accounts of Bramble Corp. on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 5,000 shares authorized) Common Stock ($4 stated value, 300,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value Common Stock Retained Earnings Treasury Stock (5,000 common shares) $300,000 1,000,000 15,000 480,000 707,500 40,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Mar. 20 Oct. 1 Nov. 1 Dec. 1 Dec. 31 Issued 5,000 shares of common stock for $35,000. Purchased 1,000 additional shares of common treasury stock at $9 per share. Declared a 6% cash dividend on preferred stock, payable November 1 Paid the dividend declared on October 1 Declared a $0.40 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Determined that net income for the year was $281,700. Paid the dividend declared on December 1