1 Requirements 1 Journali Naxon's transactions for 2018 Prepare the stockholders equity section of the balance sheet as of December 31, 2018, including the heading. Assume Nation had net income of $15,000,000 during 2018 Determine Nation's earnings per share for 2018, rounded to two decimal places. For the werage number of common the outstanding were the number of shares outstanding on 3 January 2 and December 31 Assuming Nasion's market value per common share as of December 31, 2018 wa S55, calculate Nasion's price/earning ratio for 2018, rounded to two decimal places X S Stockholders' Equity / Corporations Stockholders' Equity / Corporations Jsing Excel for stockholders' equity transactions and preparing financial statements Waxion Corporation began operations on January 2, 2018, and had the following transactions during the year: Jan. 2 Issued 250,000 shares of $1 par value common stock at $45 per share. Total shares authorized: 1,000,000 Feb. 5 Issued 10,000 shares of $50 par 5cumulative preferred stock at $65 per share. Total shares authorized: 25,000 Mar. 15 Issued 150,000 shares of $1 par value common stock at $35 per share. Apr. 2 Declared a $2.50 per share cash dividend on its preferred stock to be paid on April 25. Date of record is April 10. Apr. 3 Declared a $0.10 per share cash dividend on its common stock to be paid on April 26. Date of record is April 10. Apr. 25 Payment of cash dividend on preferred stock Apr. 26 Payment of cash dividend on common stock Jun. 1 Declared a 2 stock dividend on common stock outstanding Current market price of the stock was 548 per share. Date of record is June 15. Jun. 30 Distributed common stock dividend to shareholders Oct. 10 Purchased 2,500 shares of treasury stock.common at $52 per share Nov. 15 Sold 2.000 shares of treasury stock.common at $54 per share Ise the blue shaded areas on the ENTER ANSWERS tob for inputs.. ILWAYS use cell references and formulas where appropriate to receive full credit. Copy/pasting values will NOT own full points I- Requirement1 Journalise Naon's transactions for 2018 Always use cell references and formulas where appropriate to receive full credit.) Date Account and Explanation Debit Credit Jan 2 Issued common stock at a premium sued preferred stock at a premium Mar. 15 wed common stock at a premium A2 Dedored a cash dividend on preferred stock Apr. Dedored a cash dividend on common stock Apr. 25 Payment of cash dividend on preferred stock. Payment of cash dividend on common stock Jun 1 Dedared a 2% de 2% stock divi un 30 Pued 2 common stock dividend Purchased treasury stock.common Sold 2.000 shares of treatwy stock.common or $54 per share. Instructions ENTERANSWERS1 TENTERANSWERS2 + Requirement 2 Prepare the stockholder's equity section of the balance sheet as of December 31, 2018. Assume Naxon had net income of $15,000,000 during 2018. (Always use cell references and formulas where appropriate to receive full credit.) Stockholders' Equity S Paid-In Capital: Preferred Stock Common Stock Total Paid-In Capital Retained Eamings Treasury Stock-Common Total Stockholders' Equity Requirement 3 Determine Naxion's eamings per share for 2018, rounded to two decimal places. For the average number of common shares outstanding, average the number of shares outstanding on January 2 and December 31 (Always use cell references and formulas where appropriate to receive full credit.) Formula Answer Requirement 4 Assuming Naxdon's market value per common share as of December 31, 2018 was $55, calculate Naxion's price/eamings ratio for 2018, rounded to two decimal places. (Always use cell references and formulas where appropriate to receive full credit.) Formula