Whispering Winds' paid no dividends during 2013. It records common and preferred dividends in separate liability accounts. Its stockholders' equity consists of the following on January 1, 2014: $660,000 220,000 Stockholders' Equity Paid-in capital Capital stock Preferred stock. 4%, $50 par value, cumulative, 80,000 shares authorized, 13,200 shares issued and outstanding Common stock, no par $0.50 stated value, 1,000,000 shares authorized, 440.000 shares issued and outstanding Total capital stock Additional paid in capital Paid-in capital in excess of par value-preferred stock Paid-in capital in excess of stated value-common stock Total paid-in capital Retained earnings Total stockholders' equity 880,000 $154,000 242,000 396,000 1.276,000 858,000 $2,134,000 Prepare the appropriate journal entries, if any, for the following transactions in 2014. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Jan. 25 Issued 8,800 shares of common stock for $12 per share. Feb. 18 The Board of Directors declared a cash dividend on preferred and common stock totaling $68,200, payable on March 15, to stockholders of record on February 28, Feb 28 Date of record for cash dividends on preferred and common stock. Mar. 15 Paid the cash dividend to preferred and common stockholders, July 7 Purchased 6,600 shares of common stock for the treasury at $15 per share. Date Account Titles and Explanation Debit Credit Date Account Titles and Explanation Debit Credit