ESOURCES cture BA (Part Problem 11-2A (Part Level Submission) The stockholders' equity accounts of Monty Corp. on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,900 shares authorized) $294,000 Common Stock ($3 stated value, 335,000 shares authorized) 837,500 Paid-in Capital in Excess of Par Value-Preferred Stock 14,700 Paid-in Capital in Excess of Stated Value-Common Stock 536,000 Retained Earnings 695,000 Treasury Stock (4,900 common shares) 39,200 by Study During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity Feb. 1 Mar. 20 Oct. 1 Nov. 1 Dec. 1 Dec. 31 Issued 5,310 shares of common stock for $37,170. Purchased 1,300 additional shares of common treasury stock at $9 per share. Declared a 6% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.70 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017 Determined that net income for the year was $278,600. Paid the dividend declared on December 1. Date Account Titles and Explanation Debit Credit RESOURCES Lecture -2A (Part mission ults by Study iiii (To record net income) (To record net income) (To close cash dividends) (To record payment of cash dividends payable)