The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year:

Preferred1%Stock,$50par(100,000sharesauthorized,81,900sharesissued)$4,095,000Paid-In Capital in Excess ofParPreferred Stock155,610Common Stock, $3 par (5,000,000 shares authorized, 1,780,000 shares issued)5,340,000Paid-In Capital in Excess of ParCommon Stock1,602,000Retained Earnings35,256,000During the year, the corporation completed a number of transactions affecting thestockholders' equity. They are summarized as follows:

a.Issued 493,300 shares ofcommon stockat $7, receiving cash.b.Issued 8,800 shares of preferred 1% stock at $60.c.Purchased 46,700 shares of treasury common for $7 per share.d.Sold 18,400 shares oftreasurycommon for $9 per share.e.Sold 4,900 shares of treasury common for $6 per share.f.Declaredcash dividendsof $0.50 per share on preferred stock and $0.08 per share on common stock.g.Paid the cash dividends.

Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles.