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, $150 par (50,000 shares authorized, 25,000 shares issued) $3,750,000 Paid-In Capital in Excess of ParPreferred Stock 450,000 Common Stock, $10 par (800,000 shares authorized, 230,000 shares issued) 2,300,000 Paid-In Capital in Excess of ParCommon Stock 300,000 Retained Earnings 14,416,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Purchased 48,000 shares of treasury common for $13 per share