During the current year, Beatty Company, (a) issues 8,000 shares of ($ 50) par value preferred stock

Question:

During the current year, Beatty Company,

(a) issues 8,000 shares of $\$ 50$ par value preferred stock at $\$ 68$ cash per share and $(b)$ issues 12,000 shares of $\$ 1$ par value common stock at $\$ 10$ cash per share. Indicate the financial statement effects of these two issuances using the financial statement effects template

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