The stockholders' equity section of Karp Company at January 1, 2018 follows: Preferred Stock, 6%, $50 par, 12,000 shares Common Stock, $5 par, 160,000 shares Paid in Capital in excess of Par-Preferred Paid in Capitalin excess of Par Common Retained Earnings $600,000 $800,000 $200,000 $300,000 $800,000 During 2018, the company had the following transactions and events: 15-Jun Issued 10,000 shares of preferred stock at $70. 1-Jul Declared $70,000 of cash dividends to shareholders. 1-Sep Paid the cash dividend declared on July 1 0 15 Sep Announced a 2 for 1 common stock split when the market price was $38 1 Oct Purchased 10,000 shares of common for the treasury at $20 per share 1-Dec Declared a 10% stock dividend on the common stock when the market price was $18 per share. 31-Dec Closed the net income for 2018 of $550,000 orte . w Stockholders' Equity at December 31, 2018 Preferred Stock, 6%, $50 par, shares issued and outstanding Common Stock, $2.5 par, shares issued, shares outstanding Preferred Stock Paid in Capital in excess of par Common Stock Paid in Capital in excess of par Total Paid in Capital Retained Earnings Less: Treasury Stock, Common Shares @ $20 per share Total Stockholders' Equity O Ale w 9