1	On May 1, The Firm board authorized 200,000 shares of $50 par, cumulative preferred stock with a 4% coupon rate. It issued 5,000 shares for $250,000
2	On May 1, The Firms board authorized 25,000 shares and issued 5,200 shares of $2 par common stock for $100 per share. (Answer using new material.)
3	On May 1, The Firm paid $36,000 in cash as prepayment for 1 year of rent on an office building, beginning immediately.

There is a new successful firm that is a calendar year, accrual-basis business that began on May 1 of 2021. It is a calendar year company with a year end of December 31 (eight months in total in its first year). Create a balance sheet in good form. Use the perpetual system for inventory.

PLEASE SHOW ALL WORK IN EXCEL