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)	$8,000,000
Paid-In Capital in Excess of ParPreferred Stock	440,000
Common Stock, $5 par (5,000,000 shares authorized, 4,000,000 shares issued)	20,000,000
Paid-In Capital in Excess of ParCommon Stock	2,280,000
Retained Earnings	115,400,000

During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows:

a.	Issued 200,000 shares of common stock at $12, receiving cash.
b.	Issued 8,000 shares of preferred 2% stock at $115.
c.	Purchased 175,000 shares of treasury common for $10 per share.
d.	Sold 110,000 shares of treasury common for $14 per share.
e.	Sold 30,000 shares of treasury common for $8 per share.
f.	Declared cash dividends of $1.25 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 the exact wording of account titles.

CHART OF ACCOUNTS

Parks Construction Inc.

General Ledger

	ASSETS
110	Cash
120	Accounts Receivable
131	Notes Receivable
132	Interest Receivable
141	Inventory
145	Office Supplies
151	Prepaid Insurance
181	Land
193	Equipment
194	Accumulated Depreciation-Equipment

	LIABILITIES
210	Accounts Payable
221	Notes Payable
226	Interest Payable
231	Cash Dividends Payable
241	Salaries Payable
261	Mortgage Note Payable

	EQUITY
236	Stock Dividends Distributable
311	Common Stock
312	Paid-In Capital in Excess of Par-Common Stock
315	Treasury Stock
321	Preferred Stock
322	Paid-In Capital in Excess of Par-Preferred Stock
331	Paid-In Capital from Sale of Treasury Stock
340	Retained Earnings
351	Cash Dividends
352	Stock Dividends

Journal JOURNAL ACCOUNTING EQUATION \begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline & DATE & DESCRIPTION & POST. REF. & DEBIT & CREDIT & ASSETS & LIABILITIES & EQUITY \\ \hline 1 & & & & & & & & \\ \hline 2 & & \multicolumn{2}{|c|}{ Balances January 1,20Y7} & & & & & \\ \hline 3 & & & & & & & & \\ \hline 4 & & \multicolumn{2}{|c|}{ For the Year Ended December 31, 20Y7} & & & & & \\ \hline 5 & & & & & & & & \\ \hline 6 & & & & & & & & \\ \hline 7 & & & & & & & & \\ \hline 8 & & & & & & & & \\ \hline 9 & & & & & & & & \\ \hline 10 & & & & & & & & \\ \hline 11 & & & & & & & & \\ \hline 12 & & & & & & & & \\ \hline 13 & & & & & & & & \\ \hline \end{tabular}