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The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current fiscal year: Preferred 1% Stock, $50 par

The following selected accounts appear in the ledger of Parks 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 ParPreferred 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 ParCommon 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 at $9, receiving cash.
Feb. 10 Issued 9,100 shares of preferred 1% stock at $59.
Mar. 19 Purchased 51,600 shares of treasury stock for $6 per share.
May 16 Sold 18,700 shares of treasury stock for $8 per share.
Aug. 25 Sold 4,800 shares of treasury stock 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.

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