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, $75 par (50,000 shares authorized, 25,000 shares issued) $1,875,000 Paid-in Capital in excess of Par-Preferred Stock 225,000 Common Stock, $10 par (700,000 shares authorized, 190,000 shares issued) 1,900,000 Paid In Capital in excess of Par--Common Stock 250,000 Retained Earnings 9,010,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 42,000 shares of treasury common for $14 per share b. Sold 21,000 shares of treasury common for $17 per share. Issued 13,000 shares of preferred 2% stock at $93. d. Issued 70,000 shares of common stock at $13, receiving cash e. Sold 14,000 shares of treasury common for $12 per share 1. Declared cash dividends of $1.50 per share on preferred stock and $0.01 per share on common stock. 9. Paid the cash dividends. Required: Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. a. b. ul III 100 10 100 III 100 C. d I DID 110 000 00 00 O SID III DO IO > P C