Statement of Stockholders Equity (30 points) Ann Corporation has the following capital structure at the beginning of 2018:

6% Preferred stock, $50 par value, noncumulative and nonparticipating, 20,000 shares authorized, 6,000 shares issued and outstanding $ 300,000

Common stock, $10 par value, 60,000 shares authorized, 40,000 shares issued and outstanding 400,000

Paid-in capital in excess of par 110,000

Total paid-in capital 810,000

Retained earnings 440,000

Total stockholders' equity $1,250,000

The paid-in capital in excess of par all relates to the common stock.: (a)Prepare Journal entries for the following transactions which occurred during the year, as necessary.

1. On September 30, 2018, a 10% stock dividend was declared on the common shares when the market value of the shares was $10 per share.

2. On June 30, 2018, 4,000 shares of Treasury Stock were purchased for $12 per share.

3. On July 31, 2018, 1,000 of the Treasury Stock was reissued for $11 per share.

4. Net income for the year was $150,000

5. A cash dividend of 50 cents per share of common stock and the preferred dividends were declared on December 31 and payable to stockholders of record on a date after year end.