A-Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes A-Wireless to issue 120,000 shares of 10%, $50 par value cumulative preferred stock and 160,000 shares of $4 par value common stock. During the first month, A-Wireless completed the following transactions: Oct. 2 Issued 20,000 shares of common stock for a building with a market value of $120,000. Oct. 6 Issued 500 shares of preferred stock for $100 per share. Oct. 9 Issued 12,000 shares of common stock for cash of $72,000. Oct. 10 Declared a $15,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. Oct. 25 Paid the cash dividend. Assume A-Wireless's net income for the month was $96,000. Read the requirements: 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of A-Wireless's balance sheet at October 31, 2024. Assume A-Wireless's net income for the month was $96,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.)