answer 6-12

Use the following to answer questions 6-12 JR, Inc., has two classes of stock authorized: $100.00 par preferred and $0.01 par value common. As of the beginning of 20XC, 1,000 shares of preferred stock and 700,000 shares of common stock have been issued. Record the following transactions to complete the Statement of Stockholders' Equity: Effect on Stockholders' Equity Issue 1,000 additional shares of preferred 1-Mar stock for $101.00 per share Issue 100.000 additional shares of common 1-Apr stock for $18 per share Declare a cash dividend on both common and 1-Jun preferred stock of $1.50 per share to all stockholders of record on June 15. 30-Jun Pay the cash dividend declared on June 1. Repurchase 50,000 shares of common treasury 1-Aug stock for $19.00 per share Reissue 20,000 shares of treasury stock 1-Oct purchased on August 1 for $20.00 per share 31-Dec Net income for the year was $1,300,000 The beginning balances are shown below. Complete the Statement of Stockholders' Equity using the above information: Treasury Stock Total Stockholders Equity SO $11.325.000 Additional Preferred Common Paid-in Retained Stock Stock Capital Earnings Beginning balance 20XC $100,000 $7,000 $9.793,000 $1.425.000 Issuance of stock Net income for the year Less: Dividends Purchase of Treasury Sale of Treasury Ending balance 20XC Then answer the following questions: Then answer the following questions: 6. $ When the shares were issued on March 1, how much did additional paid in capital increase? 7. $ On June 1st when the dividend was declared, how much did retained earning decrease? 8. $ On August 1st when the shares were repurchased, how much did stockholders' equity decrease? 9. $ repurchased, decrease? On August 1st when the shares were how much did net income 10. $ On October 1st when the shares were reissued, how much did additional paid in capital change (if decrease put - in front of the number)? Compute ending retained earnings 11. $ on December 31st ending stockholders 12. $ Compute equity on December 31s