5 The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts Contributed Capital Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) Additional Paid-In Capital, Preferred Common Stock (no-par; authorized 20,000 shares, issued and outstanding 6,480 shares) Retained Earnings Treasury Stock, 1.000 Preferred shares at cost . $112,000 16,520 665,600 34,000 (9,700) ok Assume that no shares of treasury stock have been sold in the past. Required: Complete the following statements. (Decreases should be indicated by a minus sign. Round per share to 2 decimal places.) ni aces per share 1. The number of shares of preferred stock issued was 2. The number of shares of preferred stock outstanding was 3. The average Issue price of the preferred stock was 4. The average issue price of the common stock was The treasury stock transaction increased (decreased) stockholders' equity by 6. The treasury stock cost 7. Total stockholders' equity is 5 per share Ava School of Learning obtained a charter at the start of the year that authorized 50,000 shares of no-par common stock and 20,000 shares of preferred stock, par value $10. During the year, the following selected transactions occurred: a. Collected $42 cash per share from four individuals and issued 5,200 shares of common stock to each b. Issued 6,200 shares of common stock to an outside Investor at $42 cash per share. c Issued 8,200 shares of preferred stock at $22 cash per share. Required: 1. Prepare the journal entries indicated for each of these transactions. 2. Prepare the stockholders' equity section of the balance sheet at December 31. At the end of the year, the accounts reflected net income of $38,000. No dividends were declared. Complete this question by entering your answers in the tabs below. cos Required t required 2 Prepare the journal entries indicated for each of these transactions. (If no entry is required for a transaction/event, Entry Required in the first account Meld.) View transaction list Journal entry worksheet Record the issuance to an outside Investor of 6,200 shares of common stock with no par value for a price of $42 per share. Ava School of Learning obtained a charter at the start of the year that authorized 50,000 shares of no-par common stock and 20,000 shares of preferred stock, par value $10. During the year, the following selected transactions occurred a Collected $42 cash per share from four individuals and issued 5,200 shares of common stock to each D.Issued 6,200 shares of common stock to an outside investor at $42 cash per share. Issued 8,200 shares of preferred stock at $22 cash per share. Required: 1. Prepare the journal entries indicated for each of these transactions 2. Prepare the stockholders' equity section of the balance sheet at December 31. At the end of the year, the accounts reflected net income of $38,000. No dividends were declared, Complete this question by entering your answers in the tabs below. Required: Required 2 Prepare the joumal entries indicated for each of these transactions. (If no entry is required for a transaction/event, Entry Required in the first account field.) View transaction list Journal entry worksheet 2 Record the issuance of 8,200 shares of preferred stock with a par value $10 for a price of $22 per share. Note: Enter debits before credits requirea: 1. Prepare the journal entries indicated for each of these transactions, 2. Prepare the stockholders' equity section of the balance sheet at December 31. At the end of the year, the accounts reflected net income of $38,000, No dividends were declared. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the stockholders' equlty section of the balance sheet at December 31. At the end of the year, the accou reflected net income of $38,000. No dividends were declared. AVA SCHOOL Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Total Contributed Capital Total Stockholders' Equity S Required 1 Regulada