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The following selected accounts appear in the ledger of ParksConstruction Inc. at the beginning of the current fiscal year:Preferred 2% Stock, $75 par(100,000 shares authorized, 80,000 shares issued)$6,000,000Paid-In Capital in Excess ofPar—Preferred Stock420,000Common Stock, $8 par (5,000,000shares authorized, 3,000,000 shares issued)24,000,000Paid-In Capital in Excess ofPar—Common Stock1,850,000Retained Earnings115,400,000During the year, the corporation completed a number oftransactions affecting the stockholders’ equity. They aresummarized as follows:Jan.5Issued 400,000 shares of commonstock at $11, receiving cash.Feb.10Issued 5,000 shares of preferred 2%stock at $90.Mar.19Purchased 150,000 shares oftreasury stock for $10 per share.May16Sold 80,000 shares of treasurystock for $13 per share.Aug.25Sold 20,000 shares of treasurystock for $9 per share.Dec.6Declared cash dividends of $1.50per share on preferred stock and $0.06 per share on commonstock.31Paid the cash dividends.