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

Preferred Stock (8%, $100 par noncumulative, 5,000 shares authorized)		$300,000
Common Stock ($4 stated value, 300,000 shares authorized)		1,000,000
Paid-in Capital in Excess of Par ValuePreferred Stock		15,000
Paid-in Capital in Excess of Stated ValueCommon Stock		480,000
Retained Earnings		686,500
Treasury Stock (5,000 common shares)		40,000

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

Feb.	1		Issued 5,000 shares of common stock for $30,000.
Mar.	20		Purchased 1,000 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.) (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" fo the account titles and enter o0 for the amounts. Round answers to o decimal places, e.g. 5,275 Date Account Titles and Explanation Debit Credit Feb. 1 ash 30000 Common Stock 20000 Paid-in Capital in Excess of Stated Value-Commor 10000 Mar. 20 Treasury Stock 7000 Cash 7000 Oct. 1 Cash Dividends 24000 Dividends Payable 24000 Nov. 1 Dividends Payable 24000 Cash 24000 Dec. 1 $ Cash Dividends 165600 Dividends Payable 165600 Dec. 31Income Summary 176400 Retained Earnings 176400 To record net income) Dec. 31Retained Earnings 276100 Cash Dividends 276100 (To close cash dividends) Dec. 31Dividends Payable 165600 Cash 165600 To record payment of cash dividends payable) Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Preferred Stock Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Cash Dividends Treasury Stock