Selected Stock Transactions 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 Diamondback Welding current year: Preferred 2% Stock, $150 par (60,000 shares authorized, 30,000 shares issued) $4,500,000 Paid-In Capital in Excess of Par-Preferred Stock 900,000 Common Stock, $25 par (800,000 shares authorized, 260,000 shares issued) 6,500,000 Paid-In Capital in Excess of Par-Common Stock 850,000 Retained Earnings 27,030,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized a. Purchased 48,000 shares of treasury common for $30 per share. b. Sold 24,000 shares of treasury common for $33 per share. C. Issued 15,000 shares of preferred 2% stock at $165. d. Issued 80,000 shares of common stock at $28, receiving cash. e. Sold 16,000 shares of treasury common for $28 per share. f. Declared cash dividends of $3.00 per share on preferred stock and $0.04 per share on common stock. g. Paid the cash dividends. follows: Required: Journalize the entries to record the transactions, If an amount box does not require an entry, leave it blank. a. Treasury Stock 1,440,000 Cash 1,440,000 b Cash 792,000 Treasury Stock 720,000 Treasury Stock 720.000 Paid-In Capital from Sale of Treasury Stock 72.000 Cash 2,475,000 Preferred Stock 1154,000 V Pald-In Capital in Excess of Par-Preferred Stock 225,000 Cash 2,240,000 Common Stock 2.000.000 Paid-In Capital in Excess of Par-Common Stock 240,000 Cash 448,000 Paid-In Capital from Sale of Treasury Stock 32,000 Treasury Stock 480.000 Cash Dividends 391,640 X Cash Dividends Payable 391,640 Cash Dividends Payable 391,640 x Cash 391,640