Common stock$25 par value, 100,000 shares authorized, 45,000 shares issued and outstanding $1,125,000 Paid-in capital in excess of par value, common

Common stock—$25 par value, 100,000 shares authorized, 45,000 shares issued and outstandingRetained earnings 460,000 Total stockholders’ equity $1,645,000 ——————————————————————————–In year 2010, the following transactions affected its stockholders’ equity accounts. Purchased 4,500 shares of its own stock at $25 cash per share. Directors declared a $3 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Paid the dividend declared on January 5. Sold 1,688 of its treasury shares at $29 cash per share. Sold 2,812 of its treasury shares at $22 cash per share. Directors declared a $3 per share cash dividend payable on October 28 to the September 25 stockholders of record. Paid the dividend declared on September 5. Closed the $388,000 credit balance (from net income) in the Income Summary account to Retained Earnings.

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