Preterned $2\%$ Stock, $$75-$ pac $(100,000$ shares authorized, $80,000$ shares

$$6\mathrm{.}000\mathrm{.}000$ issued$)$

Paid$-$in Capital in Excess of Par$-$Preforred Stock

$420,000$

Common Stock, $$8$ par $(5,000,000$ shares authorized, $3,000,000$ shares

$24\mathrm{.}000,000$ issued$)$

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

Retained Earnings

$1\mathrm{.}850,000$

$115,400,000$

Jan. $5$ Issued $400\mathrm{.}000$ shares of common slock at $$11,$ receiving cash.

Feb. $10$ issued $5,000$ shares of preferred $2\%$ stock at $$90.$

Mar. $19$ Purchased $150,000$ shares of treasury common for $$10$ per share.

May $16$ Sold $80,000$ shares of treasury common for $$13$ per share.

Aug. $25$ Sold $20,000$ shares of treasury common for $$9$ per share.

Dec. $6$ Declared cash dividends of $$1\mathrm{.}50$ per share on preferred stock and $$0\mathrm{.}06$ per share on common stock.

$31$ Paid the cash dividends.