Beamsley Corporation was organized in 2014 to operate a financial consulting business. The charter authorized 12,000 common shares, no par value, During the first year, the following selected transactions were completed: alssued 5,900 shares of common shares for cash at $31 per share. b.|ssued 1,900 shares of common shares for cash at $34 per share. Required: 1. Show the effects of each transaction on the accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) 2. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the issue of 5,900 common shares for cash, at $31 per share. Note: Enter debits before credits. Record entry Clear entry View general journal 3. Prepare the shareholders' equity section as it should be reported on the 2014 year end balance sheet. At yearend, the accounts reflected a profit of $100. Contributed capital: - - - - 4-a. Beamsley Corporation has $30,000 in the company's bank account. Should the company declare cash dividends at this time? 0 Yes O No