The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year:

Preferred 2% Stock, $125 par (60,000 shares authorized, 30,000 shares issued)	$3,750,000
Paid-In Capital in Excess of ParPreferred Stock	750,000
Common Stock, $15 par (600,000 shares authorized, 250,000 shares issued)	3,750,000
Paid-In Capital in Excess of ParCommon Stock	490,000
Retained Earnings	18,529,000

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

Issued 60,000 shares of common stock at $21, receiving cash.

Issued 15,000 shares of preferred 2% stock at $140.

Purchased 36,000 shares of treasury common for $17 per share.

Sold 18,000 shares of treasury common for $20 per share.

Sold 12,000 shares of treasury common for $15 per share.

Declared cash dividends of $2.50 per share on preferred stock and $0.04 per share on common stock.

Paid the cash dividends.