The stockholders' equity accounts of Cullumber Corporation on January 1, 2025, were as follows.

Preferred Stock (8%, $100 par noncumulative, 5,000 shares authorized)	$480,000
Common Stock ($10 stated value, 800,000 shares authorized)	1,480,000
Paid-in Capital in Excess of Par-Preferred Stock	55,000
Paid-in Capital in Excess of Stated Value-Common Stock	930,000
Retained Earnings	850,000
Treasury Stock (8,100 common shares)	64,800

During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity.

	Mar. 1	Issued 6,700 shares of common stock for $90 per share.
		June 22 Purchased 1,700 additional shares of common treasury stock at $11 per share.
		Sept. 1 Declared an 8% cash dividend on preferred stock, payable October 1.
		Oct. 1 Paid the dividend declared on September 1.
Dec. 1		Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31, 2025.
		31 Determined that net income for the year was $115,000. Paid the dividend declared on December 1.

The stockholders' equity accounts of Cullumber Corporation on January 1, 2025, were as follows. During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Mar. 1 Issued 6,700 shares of common stock for $90 per share. June 22 Purchased 1,700 additional shares of common treasury stock at $11 per share. Sept. 1 Declared an 8% cash dividend on preferred stock, payable October 1. Oct. 1 Paid the dividend deciared on September 1. Dec. 1 Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31. 31 Determined that net income for the year was $115,000. Paid the dividend declared on December 1. CommonStock Paid-in Capital in Excess of Stated Value-Common Stock Jine 22 \& Treasury Stock Cash Sept1 Cash Dividends: Dividends Paryable Oct 1 Dividends Payable Cash Dec. 1 Dec 31 Dec 3: Dec 3: Dech Cach Dividends Dividends Payable Income Surnmury Retained Eamings (To close net income) Retained Earnings: Cuhbividends (To close dividends) 67000 536000 18700 19700 38400 + 38400 38400 38400 115000 \begin{tabular}{|l|} \hline \\ \hline \\ \hline \\ \hline \end{tabular} 115000 115000 \begin{tabular}{|r|} \hline \\ \hline \\ \hline 115000 \\ \hline \\ \hline \end{tabular} 115000