Icon Corporation was organized during 2001. At the end of 2002, the equity section of its balance sheet appeared as follows:

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Contributed capital: Preferred stock (6%, $20 par, 10,000 shares authorized, 5,000 shares issued and outstanding) $100,000 Common stock ($10 par, 50,000 shares authorized, 11,000 shares issued, 10,000 outstanding). 110,000 Paid-in capital in excess of par, preferred stock Total contributed capital Retained earnings... Total contributed capital plus retained earnings Less treasury stock (1,000 shares of common at cost). 20,000 $230,000 100,000 $330,000 (12,000) $318,000 Total stockholders' equity During 2003, the following stockholders' equity transactions occurred (in chronological se- quence): a Issued 500 shares of common stock at $13 per share. b. Reissued 500 shares of treasury stock at $13 per share. C. Issued 1,000 shares of preferred stock at $25 per share. d. Reissued 500 shares of treasury stock at $10 per share. e. Declared a dividend large enough to meet the current-dividend preference of the pre- ferred stock and to pay the common stockholders $2 per share. Dividends are recorded directly in the retained earnings account. f. Closed net income of $65,000 to Retained Earnings. Revenues were $400,000; expenses were $335,000. 1. Journalize the transactions. 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2003.