The stockholders’ equity section of Winslow Design Company’s December 31, 2009 balance sheet appeared as follows:

The stockholders’ equity section of Winslow Design Company’s December 31, 2009 balance sheet appeared as follows:

Contributed capital

Preferred stock, $100 par (10,000 shares authorized, 1.250 shares issued)     $125,000

Additional paid in capital on preferred stock                                                       55,000

Common stock, $10 par (60,000 shares authorized, 15,000 shares issued)      150,000

Additional paid in capital on common stock                                                      105,000

Total contributed capital                                                                               =   $435,000

Retained Earnings                                                                                                  78,000

Contributed capital and retained earnings                                                           $513,000

Less: Treasurey stock (300 shares of common at $14 per share)                          (4,200)

Total Stockholders Equity                                                                                     $508,800

During 2010, the company entered into the following transactions affectiong stockholders equity:

1. Issued 250 shares of preferred stock at $164 per share.

2. Issued 3,000 shared of common stock at $17 per share.

3. Reacquired 200 shared of its own common shares as treasury stock for $15 per share.

4. Reissued 250 shares of treasury stock at $17 per share (FIFO basis).

5. Net income for 2010 was $46,500. Dividends of $25,000 were distributed.