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

Preferred Stock (7%, $100par noncumulative,4,300shares authorized) $ 258,000

Common Stock ($4stated value,305,000shares authorized) 1,016,666

Paid-in Capital in Excess of Par ValuePreferred Stock 12,900

Paid-in Capital in Excess of Stated ValueCommon Stock 488,000

Retained Earnings 699,500

Treasury Stock (4,300common shares) 34,400

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

Feb.1 Issued5,470shares of common stock for $38,290.

Mar.20 Purchased1,000additional shares of common treasury stock at $8per 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 $0.75per share cash dividend to common stockholders of record on December 15, payable December 31, 2017.

Dec.31 Determined that net income for the year was $280,500. Paid the dividend declared on December 1.

Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.)