Preferred $2\%$ Stock, $$100$ par $(100,000$ shares authorized, $80,000$ shares issued$)$

Paidith Capital in Excess of Par$-$Preforred Stock

Common Stock, $$5$ par $(5,000,000$ shares authorized, $4,000,000$ shares issued$)$

Paid$-$In Capital in Excess of Par$-$Common Stock

Retained Earnings

$$8,000,000$

$440,000$

$20,000,000$

$2,280,000$

$115,400,000$

During the year, the corporation completed a number of transactions affecting the slockholders' equily. They are summarized as follows:

a$.$ Issued $220,000$ shares of common stock at $$14,$ recelving cash.

b$.$ Issued $12,000$ shares of preferred $2\%$ stock at $$110.$

c$.$ Purchased $160,000$ shares of treasury common for $$10$ per share.

Dung the year, the corporation completed a number of transactions aflecting the stocktakters' ectur. They are summanied as folows

a$.$ issued $220,000$ shares of commen stock at $$14,$ recetving cash.

b$.$ issued $12,000$ shares of preferred $2\%$ stock at $$110$

$($f$.$ Purchased $160,000$ shanes of treasurv commonfor $$10$ ser share

d$.$ Soid $105,000$ shares of treasury common for $$18$ per share.

e$.$ Sold $40,000$ shares of treasury common for $$8$ per share.

$9.$ Paid the cash dividends.

Required: