The following selected accounts appear in the ledger of parks construction inc. at the beginning of the current year: preferred 1% stock, $50 par (100,000 shares authorized, 75,100 shares issued) $3,755,000 paid-in capital in excess of par—preferred stock 165,220 common stock, $3 par (5,000,000 shares authorized, 1,690,000 shares issued) 5,070,000 paid-in capital in excess of par—common stock 1,014,000 retained earnings 30,836,000 during the year, the corporation completed a number of transactions affecting the stockholders’ equity. they are summarized as follows: jan. 5 issued 454,700 shares of common stock at $8, receiving cash. feb. 10 issued 11,800 shares of preferred 1% stock at $61. mar. 19 purchased 46,500 shares of treasury common for $8 per share. may 16 sold 20,700 shares of treasury common for $10 per share. aug. 25 sold 5,700 shares of treasury common for $7 per share. dec. 6 declared cash dividends of $0.50 per share on preferred stock and $0.10 per share on common stock. 31 paid the cash dividends.