4)

Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed:

Issued 6,200 shares of common stock for cash at $22 per share.

Issued 2,200 shares of common stock for cash at $25 per share.

Required:

Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.)

Stockholders' Equity