The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2017, were as follows.

Preferred Stock (7%, $100par noncumulative,5,000shares authorized)$300,000 Common Stock ($4stated value,300,000shares authorized)1,000,000 Paid-in Capital in Excess of Par ValuePreferred Stock15,000 Paid-in Capital in Excess of Stated ValueCommon Stock480,000 Retained Earnings685,500 Treasury Stock (5,000common shares)40,000

During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity.

Feb.1 Issued5,000shares of common stock for $30,000. Mar.20 Purchased1,000additional shares of common treasury stock at $7per share . Oct.1 Declared a7% cash dividend on preferred stock, payable November 1. Nov.1 Paid the dividend declared on October 1. Dec.1 Declared a $0.85per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Dec.31 Paid the dividend declared on December 1.

Your answer is partially correct.Try again.

(a)Can you make a tabular summary that includes the January 1, 2017, balances. Do not include the beginning balance in Retained Earnings in the tabular summary.

(b)Record the 2017 transactions in the tabular summary.