Min Co. is a publicly held company whose shares are traded in the over-the-counter market. The stockholders’ equity accounts at December 31, 2006 had the following balances:

Preferred stock, $100 par value, 6% cumulative; 5,000 shares authorized; 2,000 issued and outstanding ..................... $ 200,000

Common stock, $1 par value, 150,000 shares authorized;

100,000 issued and outstanding ............ 100,000

Additional paid-in capital ............... 800,000

Retained earnings .................. 1,586,000

Total Stockholders’ Equity .............. $2,686,000

Transactions during 2007 and other information relating to the stockholders’ equity accounts were as follows:

• February 2, 2007—Issued 13,000 shares of common stock to Ram Co. in exchange for land. On the date issued, the stock had a market price of $11 per share. The land had a carrying value on Ram’s books of $135,000, and an assessed value for property taxes of $90,000.

• March 2, 2007—Purchased 5,000 shares of its own common stock to be held as treasury stock for $14 per share. Min uses the cost method to account for treasury stock. Transactions in treasury stock are legal in Min’s state of incorporation.

• May 11, 2007—Declared a property dividend of marketable securities held by Min to common shareholders. The securities had a carrying value of $600,000; fair value on relevant dates were:

Date of declaration (May 11, 2007) ...... $720,000

Date of record (May 28, 2007) ......... 758,000

Date of distribution (June 4, 2007) ....... 736,000

• October 1, 2007—Reissued 2,000 shares of treasury stock for $16 per share.

• November 2, 2007—Declared a cash dividend of $1.50 per share to all common shareholders of record November 16, 2007. The dividend was paid on November 26, 2007.

• December 21, 2007—Declared the required annual cash dividend on preferred stock for 2007. The dividend was paid on January 4, 2008.

• January 14, 2008—Before closing the accounting records for 2007, Min became aware that no amortization had been recorded for 2006 for a patent purchased on July 1, 2006. The patent was properly capitalized at $320,000 and had an estimated useful life of eight years when purchased. Min’s income tax rate is 30%. The appropriate correcting entry was recorded on the same day.

• Adjusted net income for 2007 was $838,000.

Required

Determine the amounts of each of the following items. Show supporting calculations.

1. Prior period adjustment

2. Preferred dividends

3. Common dividends—cash

4. Common dividends—property

5. Number of common shares issued at December 31, 2007

6. Total legal capital of common stock issued

7. Additional paid-in capital, including treasury stock transactions

8. Total dollar amount of treasury stock

9. Numerator used in calculation of 2007 earnings per share for the year