4 The following information is provided for the newly formed corporation, LAX, Inc. on January 1, 2023: 5 Treasury Outstanding Authorized Issued Common stock, $1 par value: 100,000,000 35.000.000 34,510,000 Preferred stock, 6.5%, $100 par value: 1.000.000 500,000 Treasury stock, $42.35 basis: 490.000 10 11 1. On 3/31/23, LAX, Inc. issued 15,000,000 shares of of common stock in a seasoned offerring for $50.88 per share. Record the journal entry: 12 13 Date Accounts Debits Credits 14 15 2023/3/31 16 17 18 19 2. On 5/1/23, LAX, Inc. issued 100,000 shares of preferred stock for $101.62 each. Record the transaction: 20 21 22 23 Debits Date Accounts Credits 2023/5/1 24 25 27 3. Update the balance of outstanding shares: 28 Outstanding Treasury Authorized 29 30 Issued Common stock, $1 par value: 100,000,000 Preferred stock, 6.5%, $100 par value: 1,000,000 31 Treasury stock, $42.35 basis: 32 33 a 14. On 6/30/23. LAX sold 25.000 shares of treasury stock for $61.88. Record the transaction: 35 Date Accounts Debits Credits 36 2023/6/30 37 38 39 40 11 The following information is provided for LAX, Inc. for the year ending 12/31/23. Calculate the ratios: 12 13 14 15 16 Net income (Earnings): Preferred dividends paid: 45,780, 129 ROE EPS 942,280,129 Average stockholders' equity: Div yield Weighted-average common shares: P/E Annual dividend per share: 0.42 47 Stock price: $ 63.04 48 19 50 51 52 53