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, $175 par (90,000 shares authorized, 45,000 shares issued) $7,875,000 Paid-In Capital in Excess of ParPreferred Stock 1,260,000 Common Stock, $25 par (800,000 shares authorized, 310,000 shares issued) 7,750,000 Paid-In Capital in Excess of ParCommon Stock 1,010,000 Retained Earnings 37,937,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Issued 80,000 shares of common stock at $30, receiving cash. Issued 23,000 shares of preferred 2% stock at $191. Purchased 48,000 shares of treasury common for $28 per share. Sold 24,000 shares of treasury common for $31 per share. Sold 16,000 shares of treasury common for $26 per share. Declared cash dividends of $3.50 per share on preferred stock and $0.08 per share on common stock. 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 23,000 shares of preferred 2% stock at $191. c. Purchased 48,000 shares of treasury common for $28 per share. d. Sold 24,000 shares of treasury common for $31 per share. e. Sold 16,000 shares of treasury common for $26 per share. f. Declared cash dividends of $3.50 per share on preferred stock and $0.08 per share on common stock. g. Paid the cash dividends. Next