Analyzing and Identifying Financial Statement Effects of Stock Transactions (FSET) The stockholders' equity of Sougiannis Company at December 31 of the prior year follows. (1) 7% preferred stock, \$100 par value, 30,000 shares authorized; 7,500 shares issued and outstanding (2) Common stock, \$15 par value, 150,000 shares authorized; 60,000 shares issued and outstanding The following transactions, among others, occurred during the current year. a. Using the financial statement effects template, illustrate the effects of each transaction. - Note: Use negative signs with your answers, when appropriate. - Note: Select "N/A" as your answer if a part of the accounting equation is not affected. c. Prepare the December 31 stockholders' equity section of the balance sheet assuming that the company reports net income of $124,500. - Note: Do not use negative signs with your answers. Capital stock disclosure: 7% preferred stock, \$ par value,_ shares authorized; shares issued and outstanding Common stock, \$ par value, shares authorized; shares issued, of which shares are in the treasury d. Compute return on common equity for the year. Analyzing and Identifying Financial Statement Effects of Stock Transactions (FSET) The stockholders' equity of Sougiannis Company at December 31 of the prior year follows. (1) 7% preferred stock, \$100 par value, 30,000 shares authorized; 7,500 shares issued and outstanding (2) Common stock, \$15 par value, 150,000 shares authorized; 60,000 shares issued and outstanding The following transactions, among others, occurred during the current year. a. Using the financial statement effects template, illustrate the effects of each transaction. - Note: Use negative signs with your answers, when appropriate. - Note: Select "N/A" as your answer if a part of the accounting equation is not affected. c. Prepare the December 31 stockholders' equity section of the balance sheet assuming that the company reports net income of $124,500. - Note: Do not use negative signs with your answers. Capital stock disclosure: 7% preferred stock, \$ par value,_ shares authorized; shares issued and outstanding Common stock, \$ par value, shares authorized; shares issued, of which shares are in the treasury d. Compute return on common equity for the year