WhisperingCompany reported the following amounts in the stockholders equity section of its December 31, 2016, balance sheet.

Preferred stock,9%, $100par (10,000 shares authorized,1,900shares issued) $190,000

Common stock, $5par (108,500shares authorized,21,700shares issued) 108,500

Additional paid-in capital 116,000

Retained earnings 424,000

Total $838,500

During 2017, Whispering took part in the following transactions concerning stockholders equity.

1.Paid the annual 2016 $9per share dividend on preferred stock and a $2per share dividend on common stock. These dividends had been declared on December 31, 2016

2.Purchased1,600shares of its own outstanding common stock for $39per share. Whispering uses the cost method.

3.Reissued800treasury shares for land valued at $31,600.

4.Issued460shares of preferred stock at $103per share.

5.Declared a10% stock dividend on the outstanding common stock when the stock is selling for $42per share.

6.Issued the stock dividend.

7.Declared the annual 2017 $9per share dividend on preferred stock and the $2per share dividend on common stock. These dividends are payable in 2018.

(a)

Prepare journal entries to record the transactions described above.