During 2012, Doxey Corporation had the following transactions and related events:
Jan. 15 Issued 6,500 shares of common stock at par ($16 per share), bringing the total number of shares outstanding to 121,300.
Feb. 6 Declared a 50-cent-per-share dividend on common stock for stockholders of record on March 6.
Mar. 6 Date of record.
8 Pedro Garcia, a prominent banker, purchased 20,000 shares of Doxey common stock from the company for $346,000.
Apr. 6 Paid dividends declared on February 6.
June 19 Reacquired 800 shares of common stock as treasury stock at a total cost of $9,350.
Sept. 6 Declared dividends of 55 cents per share to be paid to common stockholders of record on October 15, 2012.
Oct. 6 The Dow Jones Industrial Average plummeted 300 points, and Doxey’s stock price fell $3 per share.
15 Date of record.
Nov. 16 Paid dividends declared on September 6.
Dec. 15 Declared and paid a 6% cash dividend on 18,000 outstanding shares of preferred stock (par value $32).
Given this information:
1. Prepare the journal entries for these transactions.
2. What is the total amount of dividends paid to common and preferred stockholders during 2012?
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