The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: $4,195,000 184,580 Preferred 1% Stock. $50 par (100,000 shares authorized, 83,900 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $3 par (5,000,000 shares authorized, 2,120,000 shares issued) Paid In Capital in Excess of Par-Common Stock Retained Earnings 6,360,000 1,590,000 31,692,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 467,700 shares of common stock at $9, receiving cash. b. Issued 10,700 shares of preferred 1% stock at $62. c. Purchased 53,000 shares of treasury common for $6 per share. d. Sold 20,000 shares of treasury common for $8 per share. e. Sold 5,200 shares of treasury common for $5 per share. 1. Declared cash dividends of $0.50 per share on preferred stock and $0.10 per share on common stock. g. Paid the cash dividends. in Journal Thi DATE DESCRIPTION POSER DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Jan 5 Cash 4209,500.00 1 1 1,405,100.00 1 1 2,306,200.00 1 663,400,00 1 3 1 $35.000.00 128.400.00 + Du 1 318,000.00 . 1 318.000.00 4 Common Stock Paid-In Capital in Excess of Par Comhion Stock Feb. 10 Casa Common Stock Paid In Capital in Excess of Pur Common Stock Mat. 19 Treasury Stock Cash May 16 h Treasury Stock Paid-in Captal from Sale of Treasury Stock Aug 25 Cash Paid-in Capital tron Sale of Treasury Stock Treasury Stock Dec 6 Retained Earnings Cash Dividends Payable 160,000.00 1 11 + 120.000.00 40.000.00 11 1 12 36,000.00 1 15 5.200.00 . 74 51,200.00 1 15 305,290.00 . 36 303290.00 1