Accounting for Share Transactions At the beginning of the year, The Mann Corporation, a private entity, decided to go public.

A charter of incorporation was constructed which authorized the sale of 10 million shares of $1 par value common stock, 100,000 shares of $100 par value, 8% preferred stock, and 200,000 shares of $5 no-par-value convertible preferred stock.

The following shares were sold as part of the firms initial public offering:

1,000,000 shares of common stock at $10 per share.

100,000 shares of $100 par value, 8% preferred stock at $105 per share.

100,000 shares of $5 convertible, no-par preferred stock at $55 per share.

At year-end, the full dividend was declared and paid on both preferred stock offerings.

Required

Using a spreadsheet, record the financial effects of the shareholders equity transactions for The Mann Corporation for the year. Enter amounts in thousands.

The Mann Corporation
Transaction (in thousands)	Common Shares IPO	8% Preferred IPO	No-par Preferred IPO	8% Preferred Dividend	No-par Preferred Dividend	Balance Sheet Totals
Assets
Cash	$Answer	$Answer	$Answer	$Answer	$Answer	$Answer
Shareholders Equity
Common Stock	Answer	Answer	Answer	Answer	Answer	Answer
APIC Common	Answer	Answer	Answer	Answer	Answer	Answer
$100 Preferred Stock	Answer	Answer	Answer	Answer	Answer	Answer
APIC-Preferred	Answer	Answer	Answer	Answer	Answer	Answer
$5 Conv. Preferred	Answer	Answer	Answer	Answer	Answer	Answer
Retained Earnings	Answer	Answer	Answer	Answer	Answer	Answer
Total Shareholders Equity						$Answer