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, $200 par (50,000 shares authorized, 25,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $15 par (800,000 shares authorized, 190,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings $5,000,000 1,000,000 c. Issued 13,000 shares of preferred 2% stock at $220. d. Issued 80,000 shares of common stock at $22, receiving cash. 2,850,000 370,000 19,546,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 48,000 shares of treasury common for $18 per share. b. Sold 24,000 shares of treasury common for $21 per share. e. Sold 16,000 shares of treasury common for $16 per share. f. Declared cash dividends of $4.00 per share on preferred stock and $0.10 per share on common stock. g. Paid the cash dividends.

Sielectad ifock tranustions of the curtont yeran a. Purchaned te, 000 shares of treantry cemmen for s1s per share. b. Sold 24,000 whares df treasury cemmen for $21 per ahare. c. fanied 13,000 shares of preferrod 24 steck at $220. d. fowed 80.000 shares of commen stock at $22, theiving cank. a. Seld 16.000 sheres ef treasury cenvien for $15 per share. 0. Paid the cash dividends