10 15.5 10 157 10 15.8 16.12 Comprehensive Byrd Company's Contributed Capital section of its January 1, 2019, balance sheet is as follows: 10 15.3 Preferred stock (6%, $50 par, 8,000 shares authorized, 3,400 shares issued and outstanding) $170,000 Common stock ($10 stated value, 30,000 shares authorized, 12,000 shares issued and outstanding 120,000 LO 15.6 Additional paid in capital on preferred stock 12,800 Additional paid.in capital on common stock 72,000 Total contributed capital $374,800 During 2019, Byrd entered into the following transactions: Jan. 4 Established a compensatory share option plan for its key executives. The options vost after a 3-year service period. The estimated fair value of the options expected to be exercised is $81,000. Apr. 23 Sold 300 shares of preferred stock at $55 per share. June 7 Sold 600 shares of common stock at $17 per share. Sept. 21 Purchased building by paying $9,000 cash and issuing 800 shares of common stock and 450 shares of preferred stock. Common and preferred stock are currently selling for $19 and $57 per share, respectively Oct. 12 Reacquired 900 shares of common stock at $19.50 per share. The company uses the cost method to account for treasury stock. Nov. 15 Issued for $32,000 a combination of 700 shares of common stock and 12% bonds with a face value of $20,000. The common stock is currently selling for $18 per shore. No market value exists for the bonds. Dec. 14 Reissued the 900 shares of treasury stock at $20.50 per share. 28 Distributed a $3.00-per-share dividend on all outstanding preferred stock and a $1.50-per-share dividend on all common stock outstanding on this date (debit Retained Earnings and credit Cash for each dividend). Required: 1. Prepare memorandum and journal entries to record the preceding transactions. 2. Prepare the Contributed Capital section of Byrd's December 31, 2019, balance sheet