Problem 3. CORPORATE EQUITY TRANSACTIONS 1. Issued 5,000 shares of no-par common stock. The market price of the stock is $12 per share. 2. Issued 2,000 shares of 5%, S 100 par, cumulative preferred stock for $122 per share. 3. Declared dividends on preferred dividend of 5% per share. 4. Purchased 500 shares of common stock at $14 for treasury 5, Paid preferred dividend declared in #3. 6. Sold 100 shares treasury stock at $20 per share. Instructions: Journalize the transactions for Fortier Company