Problem 11-2A The stockholders' equity accounts of Bramble Corp. on January 1, 2017, were as follows Preferred Stock (6%, $100 par noncumulative, 4,400 shares authorized) Common Stock ($3 stated value, 346,000 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 (4,400 common shares) $264,000 865,000 13,200 553,600 707,500 35,200 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity Feb. 1 Issued 5,190 shares of common stock for $36,330 Mar. 20 Purchased 1,450 additional shares of common treasury stock at $9 per share Oct. 1 Declared a 6% cash dividend on preferred stock, payable November 1 Nov. 1 Paid the dividend declared on October 1 Dec. Declared a $0.40 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017 Dec. 31 Determined that net income for the year was $281,700. Paid the dividend declared on December 1