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: $6,750,000 Preferred 2% Stock, $150 par (90,000 shares authorized, 45,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $20 par (700,000 shares authorized, 320,000 shares issued) 810,000 6,400,000 Paid-In Capital in Excess of Par-Common Stock 830,000 Retained Earnings 31,355,000 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 $24 per share. b. Sold 21,000 shares of treasury common for $27 per share. C. Issued 23,000 shares of preferred 2% stock at $163. d. Issued 70,000 shares of common stock at $27, receiving cash. e. Sold 14,000 shares of treasury common for $22 per share. f. Declared cash dividends of $3.00 per share on preferred stock and $0.10 per share on common stock. g. Paid the cash dividends. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. lll lll