Following is the stockholders' equity of Dennis Corporation at December 31, 20 18.

The following transactions, among others, occurred during 2019.

Jan. 15   Issued 1,000 shares of preferred stock for $62 cash per share.

Jan. 20   Issued 4,000 shares of common stock at $36 cash per share.

May 18  Announced a 2-for-I common stock split, reducing the par value of the common stock to $ 10 per share. The authorization was increased to I 00,000 shares.

June 1    Issued 2,000 shares of common stock for $60,000 cash.

Sept. 1    Purchased 2,500 shares of common stock for the treasury at $ 18 cash per share.

Oct. 12    Sold 900 treasury shares at $21 cash per share.

Dec. 22    Issued 500 shares of preferred stock for $59 cash per share.

REQUIRED

a. Using the financial statement effects template, illustrate the effects of each transaction.

b. Prepare the journal entries for these transactions.

c. Post the journal entries from b to the related T-accounts.

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8% preferred stock, $50 par value, 10,000 shares authorized; 7,000 shares issued and outstanding... ... Common stock, $20 par value, 50,000 shares authorized; 25,000 shares issued and outstanding.. ... $ 350,000 .... .. 500.000 Paid-in capital in excess of par value-preferred stock . Pald-in capital in excess of par value-common stOCK Retained eamings ... 70,000 385.000 238,000 .. Total stockholders' equity.... $1,543,000