The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current your 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 54, 195,000 184,580 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: 5 10 19 16 25 Issued 467 700 shares of common stock at $9, receiving cash. Issued 10,700 shares of preferred 1% stock at $62. Purchased 53,000 shares of treasury common for $6 per share. Sold 20,000 shares of treasury common for $8 per share Sold 5,200 shares of treasury common for $5 per share. Declared cash dividends of $0.50 per share on preferred stock and $0.10 per share on common stock. Paid the cash dividends. Joumalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles Journake the tries to record the transactions. Refer to the Chart of Accounts for exact PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY