The stockholders' equity accounts of Bridgeport Corp. on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 5,500 shares authorized) Common Stock ($4 stated value, 330,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (5,500 common shares) Feb. 1 Mar. 20 Oct. 1 Nov. 1 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Dec. 1 $330,000 Dec. 31 1,100,000 16,500 528,000 756,800 44,000 Issued 5,500 shares of common stock for $33,000. Purchased 1,100 additional shares of common treasury stock at $7 per share. Declared a 7% cash dividend on preferred stock, payable November 1. Paid the dividend declared on October 1. Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Determined that net income for the year was $310,000. Paid the dividend declared on December 1.
The stockholders' equity accounts of Bridgeport Corp. on January 1, 2017, were as follows. During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,500 shares of common stock for $33,000. Mar. 20 Purchased 1,100 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1. Declared a $0.50 per share cash dividend to common stockholders of fecord on December 15 , pavable December 31. 2017. Dec: 31 Determined that net income for the year was $310,000. Paid the dividend declared on December 1. The stockholders' equity accounts of Bridgeport Corp. on January 1, 2017, were as follows. During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,500 shares of common stock for $33,000. Mar. 20 Purchased 1,100 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1. Declared a $0.50 per share cash dividend to common stockholders of fecord on December 15 , pavable December 31. 2017. Dec: 31 Determined that net income for the year was $310,000. Paid the dividend declared on December 1 
