Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $50 par (70,000 shares authorized, 35,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock $1,750,000 280,000 7,250,000 Common Stock, $25 par (800,000 shares authorized, 290,000 shares issued) Paid-In Capital in Excess of Par-Common Stock 940,000 Retained Earnings 21,666,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 80,000 shares of common stock at $30, receiving cash. b. Issued 18,000 shares of preferred 2% stock at $69. c. Purchased 48,000 shares of treasury common for $30 per share. d. Sold 24,000 shares of treasury common for $33 per share. e. Sold 16,000 shares of treasury common for $28 per share. f. Declared cash dividends of $1.00 per share on preferred stock and $0.06 per share on common stock. g. Paid the cash dividends. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Required: a. Issued 80,000 shares of common stock at $30, receiving cash. b. Issued 18,000 shares of preferred 2% stock at $69. c. Purchased 48,000 shares of treasury common for $30 per share. d. Sold 24,000 shares of treasury common for $33 per share. e. Sold 16,000 shares of treasury common for $28 per share. f. Declared cash dividends of $1.00 per share on preferred stock and $0.06 per share on common stock. g. Paid the cash dividends