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 (70,000 shares authorized, 35,000 shares issued) $6,125,000 Paid-In Capital in Excess of Par-Preferred Stock 980,000 Common Stock, $25 par (800,000 shares authorized, 230,000 shares issued) 5,750,000 Paid-In Capital in Excess of Par-Common Stock 750,000 Retained Earnings 28,843,000 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 $31, receiving cash. b. Issued 18,000 shares of preferred 2% stock at $190. c. Purchased 48,000 shares of treasury common for $26 per share. d. Sold 24,000 shares of treasury common for $29 per share. e. Sold 16,000 shares of treasury common for $24 per share. 1. Declared cash dividends of $3.50 per share on preferred stock and $0.06 per share on common stock. g. Paid the cash dividends. Required: Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank a. Issued 80,000 shares of common stock at $31, receiving cash. b. Issued 18,000 shares of preferred 2% stock at $190. C. Purchased 48,000 shares of treasury common for $26 per share.. d. Sold 24,000 shares of treasury common for $29 per share. e. Sold 16,000 shares of treasury common for $24 per share. f. Declared cash dividends of $3.5 per share on preferred stock and $0.06 per share on common stock. g. Paid the cash dividends