At the end of 2009, Stanley Utilities, Inc., had the following equity accounts and balances:

Common stock, $10 par ..............$200,000

Paid-in capital in excess of par, common stock ..... 168,100

Retained earnings .................. 53,500

During 2010, Stanley Utilities engaged in the following transactions involving its equity accounts:

a. Sold 2,900 shares of common stock for $20 per share.

b. Sold 1,500 shares of 12 percent, $50 par preferred stock at $75 per share.

c. Declared and paid cash dividends of $4,500.

d. Purchased 1,000 shares of treasury stock (common) for $22 per share.

e. Sold 600 of the treasury shares for $24 per share.

Required:

1. Provide the journal entries for a through e.

2. Assume that 2010 net income was $36,850. Prepare a statement of stockholders’ equity at December 31, 2010.