The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year Preferred 2% Stock, $80 par (200,000 shares authorized, 65,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock $5,200,000 360,000 Common Stock, $12 par (3,000,000 shares authorized, 1,400,000 shares issued) 16,800,000 Paid-In Capital in Excess of Par-Common Stock 1,290,000 110,900,000 Retained Earnings During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Jan 5 Issued 220,000 shares of common stock at $15 receiving cash Feb. 10 Issued 6.000 shares of preferred 2% stock at $94. Mar 19 Purchased 130,000 shares of treasury common for $19 per share. May 16 Sold 70,000 shares of treasury common for $23 per share Aug 25 Sold 40,000 shares of treasury common for $17 per share Dec 6 31 Declared cash dividends of $1.60 per share on preferred stock and $0. 14 per share on common stock Paid the cash dividends.