The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (100,000 shares authorized. 80,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock $ 8,000,000 440,000 Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 20,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings 2,280,000 115,400,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 220,000 shares of common stock at $14, receiving cash. b. Issued 12,000 shares of preferred 2% stock at $110. C. Purchased 160,000 shares of treasury common for $10 per share. d. Sold 105,000 shares of treasury common for $16 per share. e. Sold 40,000 shares of treasury common for $8 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 per share on common stock. g. Paid the cash dividends. INSTRUCTIONS Journalize the entries to record the transactions. Identify each entry by letter.