The stockholders equity accounts of Flint Corporation on January 1, 2017, were as follows.

Preferred Stock (8%, $100 par noncumulative, 4,950 shares authorized)		$297,000
Common Stock ($4 stated value, 321,000 shares authorized)		1,070,000
Paid-in Capital in Excess of Par ValuePreferred Stock		14,850
Paid-in Capital in Excess of Stated ValueCommon Stock		513,600
Retained Earnings		686,500
Treasury Stock (4,950 common shares)		39,600

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

Feb.	1		Issued 4,950 shares of common stock for $29,700.
Mar.	20		Purchased 1,400 additional shares of common treasury stock at $7 per share.
Oct.	1		Declared a 8% cash dividend on preferred stock, payable November 1.
Nov.	1		Paid the dividend declared on October 1.
Dec.	1		Declared a $0.60 per 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 $276,100. Paid the dividend declared on December 1.

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

Enter the beginning balances in the accounts and post the journal entries to the stockholders equity accounts.

Prepare the stockholders equity section of the balance sheet at December 31, 2017