Journal entry

thats only info. i have.

The stockholders' equity section of Karp Company at January 1, 2018 follows: Preferred Stock, 6%, $50 par, 12,000 shares Common Stock, $5 par, 160,000 shares Paid in Capital in excess of Par-Preferred Paid in Capital in excess of Par-Common Retained Earnings $600,000 $800,000 $200,000 $300,000 $800,000 During 2018, the company had the following transactions and events: 15-Jun Issued 10,000 shares of preferred stock at $70. 1-Jul Declared $70,000 of cash dividends to shareholders. 1 Sep Paid the cash dividend declared on July 1 15 Sep Announced a 2 for 1 common stock split when the market price was $38 1-Oct Purchased 10,000 shares of common for the treasury at $20 per share 1 Dec Declared a 10% stock dividend on the common stock when the market price was $18 per share 31-Dec Closed the net income for 2018 of $550,000