Question $8$ of $8$

$-16$

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The stockholders' equity accounts of Sandhill Corporation on January $1,2027,$ were as follows.

During $2027,$ the corporation had the following transactions and events pertaining to its stockholders' equity.

Feb. $1$ Issued $5,000$ shares of common stock for $$35,000.$

Mar. $20$ Purchased $2,000$ 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. $1$ Declared a $$0\mathrm{.}70$ per share cash dividend to common stockholders of record on December $15,$ payable December $31,2027.$

Dec. $31$ Paid the dividend declared on December $1.$

$($a$)$ Prepare a tabular summary that includes the January $1,2027,$ balances. Do not include the beginning balance in Retained

$($b$)$ Record the $2027$ transactions in the tabular summary.

Include margin explanations for the changes in revenues and expenses. $($Round answers to $0$ decimal places, e$.$g$.5,275.)$

Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses.

Increases in expenses require a negative sign or parentheses.

Increases in Discount on Bonds Payable require a negative sign or parentheses.

Increases in Treasury Stock require Cash, div pay common stock paid in capital in stated valume common pref stock paid capital in excess of par value prefferd tresury stock, rev, expense, divden s$.$