Selected Stock Transactions Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Diamondback Welding & Fabrication at the beginning of the current year: Preferred 2% Stock, $175 par (30,000 shares authorized, 15,000 shares issued) $2,625,000 Pald-in Capital in Excess of Par-Preferred Stock 525,000 Common Stock, $25 par (600,000 shares authorized, 280,000 shares issued) 7,000,000 Paid-In Capital in Excess of Par-Common Stock 910,000 Retained Earnings 23,447,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 36,000 shares of treasury common for $28 per share. b. Sold 18,000 shares of treasury common for $31 per share. c. Issued 8,000 shares of preferred 2% stock at $193. d. Issued 60,0po shares of common stock at $31, receiving cash. old 12,000 shares of treasury common for $26 per share. f. Declared cash dividends of $3.50 per share on preferred stock and $0.04 per share on common stock 9. Paid the cash dividends. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank Treasury Stock Cash Cash b. Il 101 Treasury Stock Cash b. Treasury Stock Paid-In Capital from Sale of Treasury Stock Cash c. Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock d. Cash Common Stock Paid-In Capital in excess of Par-Common Stock 110 111 111 III II II 111 DII II II