1) Identify (by letter) each of the following characteristics as being an advantage or a disadvantage of the corporate form of business or not applicable to the corporate form of business organization. A = Advantage D = Disadvantage N = Not Applicable Characteristics 1. Separate legal entity 2. Taxable entity resulting in additional taxes 3. Continuous life 4. Unlimited liability of owners 5. Government regulation 6. Separation of ownership and management 7. Ability to acquire capital 8. Ease of transfer of ownership 2. A1 Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2025, the company has the following stock transactions. Jan. 15 Issued 700,000 shares of stock at $7 per share Sept. 5 Purchased 20,000 shares of common stock for the treasury at $8 per share Dec. 6 Declared a $0.50 per share dividend to stockholders of record on December 20, 2025, payable January 3, 2026 Instructions Journalize the transactions for A1 Corporation