Sun Corporation received a charter that authorized the issuance of 87,000 shares of $7 par common stock and 20,000 shares of $75 par, 7 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation:

2018

Jan.	5		Sold 13,050 shares of the $7 par common stock for $9 per share.
	12		Sold 2,000 shares of the 7 percent preferred stock for $85 per share.
Apr.	5		Sold 17,400 shares of the $7 par common stock for $11 per share.
Dec.	31		During the year, earned $316,400 in cash revenue and paid $243,200 for cash operating expenses.
	31		Declared the cash dividend on the outstanding shares of preferred stock for 2018. The dividend will be paid on February 15 to stockholders of record on January 10, 2019.

2019

Feb.	15		Paid the cash dividend declared on December 31, 2018.
Mar.	3		Sold 3,000 shares of the $75 par preferred stock for $95 per share.
May.	5		Purchased 550 shares of the common stock as treasury stock at $14 per share.
Dec.	31		During the year, earned $252,200 in cash revenues and paid $175,800 for cash operating expenses.
	31		Declared the annual dividend on the preferred stock and a $0.75 per share dividend on the common stock.

Sun Corporation Accounting Equation Stockholders' Equity Event AssestLiabilities Paid-in Capital in Dividends PreferredCommonExcess ofExcess of Paid-in Capital in Preferred Accounts Titles for Retained Earnings Treasury+ Retained Cash |=| Payable Stock Earnings Stock Stock Common Stock Stock 2018 Jan.5 Jan. 12 Apr.5 Dec 31 Dec 31 Dec. 31 Bal 91,350+ 26,100 170.000 91,350+ 26,100 170,000 | 2019 Feb.15 Mar.3 May.5 Dec 31 Dec. 31 Dec 31 Bal 91,350+ 26,100 170,000