Account for stock transactions. (LO 1, 6). Clarkson Chivas, Inc., was started on July 1, 2010. The company is authorized to issue 200,000 shares of 6%, $110 par value preferred stock, and 1,500,000 shares of common stock with a par value of $1 per share. The following stock trans- actions took place during the fiscal year ended June 30, 2011: July 15 October 1 January 12 March 10 June 1 Issued 10,000 shares of common stock for cash at $2 per share Issued 5,000 shares of preferred stock for cash at $115 per share Issued 15,000 shares of common stock for cash at $4 per share Issued 7,500 shares of preferred stock for cash at $120 per share Issued 25,000 shares of common stock for cash at $6 per share Requirements 1. Show each transaction in the accounting equation. 2. Prepare the contributed capital portion of the shareholders' equity section of the balance sheet at June 30, 2011