Sun Corporation received a charter that authorized the issuance of 94,000 shares of $4 par common stock and 20,000 shares of $100 par, 8 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation.

Year 1

January 5 Sold 14,100 shares of the $4 par common stock for $6 per share.

January 12 Sold 2,000 shares of the 8 percent preferred stock for $110 per share.

April 5 Sold 18,800 shares of the $4 par common stock for $8 per share.

December 31 During the year, earned $310,400 in cash revenue and paid $240,900 for cash operating expenses

December 31 expenses. Declared the cash dividend on the outstanding shares of preferred stock for Year 1. The dividend will be paid on February 15 to stockholders of record on January 10, Year 2.

Year 2

February 15 Paid the cash dividend declared on December 31, Year 1.

March 3 : Sold 3,000 shares of the $100 par preferred stock for $120 per share.

May 5 : Purchased 500 shares of the common stock as treasury stock at $8 per share

December 31 During the year, earned $247,800 in cash revenues and paid $173,000 for cash operating expenses

December 31 Declared the annual dividend on the preferred stock and a $0.75 per share dividend on the common stock

A) organize transaction data in accounts under an accounting equation.