Brice Co. completed the following transactions in 2016, the first year of operation:

1. Issued 30,000 shares of no-par common stock for $20 per share.

2. Issued 8,300 shares of $30 par, 7 percent, preferred stock for $30 per share.

3. Paid a cash dividend of $17,430 to preferred shareholders.

4.

Issued a 10 percent stock dividend on no-par common stock. The market value at the dividend declaration date was $25 per share.

5.

Later that year, issued a 2-for-1 split on the shares of outstanding common stock. The market price of the stock at that time was $70 per share.

6.Produced $185,000 of cash revenues and incurred $75,000 of cash operating expenses.

7. Closed the revenue, expense, and dividend accounts to retained earnings.

IEEE NEW atements model the following one In the Cash Flow financing activity (FA and net change in cash (Enter any decreases to account balances and cash outflows with a minus sign.) Statements Model For 2016 Earnings Totals 11 02 Explain how OSH Cash Flow