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, $80 par (100,000 shares authorized, 60,000 shares issued) $4,800,000 Pald-In Capital in Excess of Par-Preferred Stock 210,000 Common Stock, $9 par (3,000,000 shares authorized, 1,750,000 shares issued) 15,750,000 Pald-in Capital in Excess of Par-Common Stock 1,400,000 Retained Earnings 52,840,000 During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Purchased 87,500 shares of treasury common for $8 per share. b. Sold 55,000 shares of treasury common for $11 per share. c. Issued 20,000 shares of preferred 2% stock at $84. d. Issued 400,000 shares of common stock at $13, receiving cash. e. Sold 18,000 shares of treasury common for $7.50 per share. 1. Declared casividends of $1.60 per share on preferred stock and $0.05 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. Ul III III III 10:01 1 lll III III III II II A A