Stockholders’ Equity: Information and Entries from Comparative Data
Comparative stockholders’ equity sections from two successive years of balance sheets from Smiley, Inc., are as follows:

	Dec. 31, 2012	Dec. 31, 2011
Paid-in Capital
8 Percent preferred stock, $50 par value, authorized 20,000 shares;
issued and outstanding, 2011: 8,000 shares; 2012: 12,000 shares	$600,000	$400,000
Common stock, no-par value, $20 stated value, authorized 80,000
shares; issued, 2011: 32,000 shares; 2012: 40,000 shares	800,000	640,000
Additional Paid-in Capital
In excess of par value—Preferred stock	224,000	144,000
In excess of stated value—Common stock	232,000	160,000
From treasury stock	21,000
Retained earnings	300,000	229,000
		$1,573,000
Less: Treasury stock (7,000 shares common) at cost	0	196,000
Total Stockholders’ Equity	$2,177,000	$1,377,000

No dividends were declared or paid during 2012.

Required
Prepare the journal entries for the transactions affecting stockholders’ equity that occurred during 2012. Do not prepare the journal entry for closing net income to retained earnings. Assume that any share transactions were for cash.