PR 13-3B Selected stock transactions OBJ. 3r 4, 5 Diamondback Welding & Fabrication Corporation sells and services pipe welding equip- ment in Illinois. The following selected accounts appear in the ledger of Diamondback welding & Fabrication Corporation at the beginning of the current fiscal year: Preferred 2% Stock, $80 par (100,000 shares authorized, 4800.000 60,000 shares issued) 210,000 Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $9 par (3,000,000 shares authorized, 15,750,000 1,750,000 shares issued) 1,400,000 Paid-In Capital in Excess of Par-Common Stock 52,840,000 Retained Earnings During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Purchased 87,500 shares of treasury common for $8 per share. b. Sold 55,000 shares of treasury common for $11 per share. c. Issued 20,000 shares of preferred 2% stock at $84. cash. d. Issued 400,000 shares of common stock at $13, receiving (Continued)