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The stockholders equity accounts of Miley Corporation on January 1, 2014, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,500 shares authorized) $270,000 Common

The stockholders equity accounts of Miley Corporation on January 1, 2014, were as follows.

Preferred Stock (6%, $100 par noncumulative, 4,500 shares authorized) $270,000
Common Stock ($3 stated value, 311,300 shares authorized) 747,120
Paid-in Capital in Excess of Par ValuePreferred Stock 10,800
Paid-in Capital in Excess of Stated ValueCommon Stock 249,040
Retained Earnings 693,000
Treasury Stock(4,500 common shares) 36,000

During 2014, the corporation had the following transactions and events pertaining to its stockholders equity.

Feb. 1 Issued 5,200 shares of common stock for $36,400.
Mar. 20 Purchased 1,400 additional shares of common treasury stock at $7 per share.
Oct. 1 Declared a 6% cash dividend on preferred stock, payable November 1.
Nov. 1 Paid the dividend declared on October 1.
Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2014.
Dec. 31 Determined that net income for the year was $279,700. Paid the dividend declared on December 1.

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