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: a.lssued 6,300 shares of common shares for cash at $23 per share. b.lssued 2,300 shares of common shares for cash at $26 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.) Transaction Assets Liabilities Shareholders' Equity Cash Common shares required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 Record the issue of 6,300 common shares for cash, at $23 per share Note: Enter debits before credits Transaction General Journal Debit Credit a. 3. Prepare the shareholders' equity section as it should be reported on the 2014 year- end balance sheet. At year-end, the accounts reflected a profit of $100 Shareholders' Equity Contributed capital Total contributed capital Shareholders' equity 4-a. Beamsley Corporation has $30,000 in the company's bank account. Should the company declare cash dividends at this time? O Yes O No Journal entry worksheet 2 Record the issue of 2,300 common shares for cash, at $26 per share Note: Enter debits before credits Transaction General Journal Debit Credit b. Record entry Clear entry View general journal