The stockholders' equity accounts of Indigo Corporation on January 1, 2017, were as follows. $240,000 1,358,333 Preferred Stock (7%, $100 par noncumulative, 4,000 shares authorized) Common Stock ($5 stated value, 326,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (4.000 common shares) 12,000 521,600 711,000 32,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders equity. Feb. 1 Mar. 20 Oct 1 Issued 4,620 shares of common stock for $32,340. Purchased 1.550 additional shares of common treasury stock at $9 per share. Declared a 7% cash dividend on preferred stock payable November 1. Paid the dividend declared on October 1. Declared a $0.80 per share cash dividend to common stockholders of record on December 15, payable December 31. Nov. 1 Dec. 1 2017 Dec. 31 Determined that net income for the year was $279.000. Paid the dividend declared on December 1. Your answer is partially correct. Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not inden entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to decimal places, es Debit Date Account Titles and Explanation 32340 Feb. 1 Cash Common Stock Paid-in Capital in Excess of Stated Value Common Stock 13950 Mar. 20 Treasury Stock Cash 16800 Oct 1 Retained Earnings Dividends Payable 3 E . M tion 6 of 6 Enter the beginning balances in the accounts and post the journal entries to the stockholders equity accounts. (Post entries der of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date zro for the amount) Preferred Stock Common Stock . 10. II DODD Paid-in Capital in Excess of Par Value-Preferred Stock Canital in Excess of Stated Value-Common Stock