A$.$ The following accounts appear in the trial balance of DAVAO EAGLE Corporation as of December $31,2021$:

Redeemable Preferred Stock, par P$100,$ authorized $50,000$ shares P$1,700,000$

Subscribed Preferred Stock $200,000$

Subscription Receivable, Preferred $150,000$

Authorized Common Stock, P$100$ stated value $1,000,000$

Unissued Common Stock $500,000$

Paid In Capital In Excess of Stated Value $$ Common $55,000$

Paid In Capital In Excess of Par $$ Preferred $300,000$

Treasury Stock $(500$ common shares$)60,000$

For each class of stock, compute the authorized number of shares, issued shares, unissued shares, issued and outstanding shares, subscribed shares, still available for subscription, legal capital.

To continue with problem above, assume the following transactions took place during $2021$:

Jan. $10$ One half of the subscription receivable was collected and certificates of stock issued for $1,000$ shares.

Jan. $20$ Remaining subscription was declared delinquent and the corresponding shares put up for public auction. Advertising paid, P$5,500.$

Jan. $25$ A bidder for $300$ shares paid the amount due plus accrued interest of P$750$ and the corresponding certificates were issued.

Jan. $31$ A stockholder received $2,000$ preferred shares with a market value of P$200$ in exchange for land costing P$150,000$ with a market value of P$250,000.$

Feb. $8300$ treasury shares were sold for P$45,000.$

Feb. $20$ A stockholder paid P$70,000$ for $500$ common shares.

Feb. $285,000$ preferred shares were redeemed at a price of P$120$ per share.

Direction:

$1)$ Prepare a table tracking down the movement of the stocks, one each for the preferred and common. Start with the December $31$ balances.

$2)$ Journal entries

$3)$ Prepare the stockholders$$ equity section as of Feb. $28,2021.$

$4)$ For each class of stock, answer the same requirements as in A above.