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, $$50$ par $(70,000$ shares authorized, $35,000$ shares issued$)$

$$1,750,000$

Paid$-$In Capital in Excess of Par$-$Preferred Stock

$280,000$

Common Stock, $$20$ par $(500,000$ shares authorized, $220,000$ shares issued$)$

$4,400,000$

Paid$-$In Capital in Excess of Par$-$Common Stock

$570,000$

Retained Earnings

$14,840,000$

During the year, the corporation completed a number of transuctions affecting the stockholders' equity. They are summarized as follows:

a$.$ Purchased $30,000$ shares of treasury common for $$22$ per share.

b$.$ Sold $15,000$ shares of treasury common for $$25$ per share.

c$.$ Issued $18,000$ shares of preferred $2\%$ stock at $$64.$

d$.$ Issued $50,000$ shares of common stock at $$26,$ receiving cash.

e$.$ Sold $10,000$ shares of treasury common for $$20$ per share.

f$.$ Declared cash dividends of $$1\mathrm{.}00$ per share on preferred stock and $$0\mathrm{.}04$ per share on common stock.

g$.$ Paid the cash dividends.