Answer the following questions and make journal entries as needed:

What does the 4 percent mean for the preferred stock? After Beta Coporation issues preferred stock, how much in annual cash dividends would it expect to pay on 5.000 shares?

At what average price per share did Beta Corporation issue the common stock during 2017? 1

Were first-year operations profitable? Give your reason

During 2018, the company completed the following selected transactions. Journalize each transaction. Explanations are not required

Issued for cash 1,200 shares of preferred stock at par value.

Issued for cash 2,500 shares of common stock at a price of $5.00 per share.

5. Prepare the stockholders' equity section of the Beta Corporation balance sheet at December 31, 2018. Assume net income for the year is $82,000

Stockholders' Equity Total stockholders' equity Stockholders' Equity Total stockholders' equity