The following selected accounts appear in the ledger of EJ Construction Inc, at the beginning of the current fiscal year: Preferred 1% Stock, $50 par (100,000 shares authorized, 79, 500 shares issued) $3, 975,000 Paid-In Capital in Excess of Par-Preferred Stock 151, 050 Common Stock, $3 par (5,000,000 shares authorized, 2, 460,000 shares issued) 7, 380,000 Paid-In Capital In Excess of Par-Common Stock 1, 722,000 Retained Earnings 34, 910,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Jan, 5 Issued 521, 500 shares of common stock of $9, receiving cash. Feb, 10 Issued 9, 100 shares of preferred 1% stock at $59. Mar, 19 Purchased 51, 600 shares of treasury common for $6 per share. May 16 Sold 18, 700 shares of treasury common for $8 per share. Aug, 25 Sold 4, 800 shares of treasury common for $5 per share. Dec, 6 Declared cash dividends of $0.50 per share on preferred stock and $0.06 per share on common stock. 31 Paid the cash dividends