The following selected accounts appear in the ledger of EJ construction Inc, at the beginning of the current fiscal year. During the year, the corporation completed a number of transactions affecting the stockholders' equity, they are summarized as follows: Issued 500,000 shares of common stock at $8, receiving cash. Issued 10.000 shares of preferred 1% stock at $60. Purchased 50.000 shares of treasury common to $7 per share, Sold 20.000 shares of treasury common for $9 per share. Sold 5,000 shares of treasury common for $6 per share. Declared cash dividends of $0.50 per share on preferred stock and $0.08 per share on common stock, Paid the cash dividends