Record the following transactions for Nance Corporation related to stockholders equity. The company is authorized to issue 1,000,000 shares of common stock with a $1 stated value and 50,000 shares of $20 par value 6% cumulative preferred stock.

Chart of Accounts Available
100	Cash
105	Accounts Receivable
200	Accounts Payable
215	Dividends Payable
300	Common Stock
310	Preferred Stock
315	Common Stock Dividend Distributable
320	PIC in Excess of Par Value Preferred Stock
325	PIC in Excess of Stated Value Common Stock
330	PIC from Treasury Stock
350	Retained Earnings
355	Treasury Stock

A.	On January 15, 2014; issued 500,000 shares of common stock at $7 per share
	Date	Account Titles	Ref.	Debit	Credit
B.	On February 1, 2014; issued 5,000 shares of its $20 par value preferred stock for $28 per share
	Date	Account Titles	Ref.	Debit	Credit
C.	On October 10, 2015; the board declares a 15% stock dividend for the common stockholders when the market price is $12 per share. The stock dividend will be distributed on October 31 to shareholders on record at October 25. Assume no other dividends are outstanding.
	Date	Account Titles	Ref.	Debit	Credit
D.	On November 15, 2015; the board declares an annual cash dividend for the preferred stockholders for all dividends owed. Assume no other cash dividends have been paid to preferred stockholders.
	Date	Account Titles	Ref.	Debit	Credit

TREASURY STOCK (12 points)
On January 1, 2015, the stockholders equity section of Nance Corporation shows: Common stock ($5 par value) $1,500,000; paid-in capital in excess of par value $1,000,000; and retained earnings $1,200,000. During the year, the following treasury stock transactions occurred.
Mar.	1 Purchased 30,000 shares for cash at $22 per share.
July	1 Sold 6,000 treasury shares for cash at $27 per share.
Sept.	1 Sold 5,000 treasury shares for cash at $19 per share.
Dec.	1 Sold 5,000 treasury shares for cash at $12 per share.