CALCULATOS CHAK Continuing Cookie Chronicle 11 Part 2 After matching the company's focal year-end to be October 31, Natalie and Curtis began operating Cooker Coffee Creations Inc. on November 1, 2021. The company had the following selected transaction durwg as fortical year of operations. The new corporation is adhore to issue 50,000 are of St par como stock and 10,000 shares of par 56 catre preferred stock Jan. 1 Issued an additional 800 preferred shares to Natalie's brother for $4,000 cash June 30 Repurchased 750 res issued to the lawyer for $500 cash. The Iwwer had decided to retire and wanted to buidate all her assets Oct. 15 The company had a very succesul first year of operations and as a result declared dividends of $20,000, payable November 15, 2002. (Indicate the amounts payable to the preferred stockers and to the common stockholders Oct 1 The company earned revents of $472.500 and incurred expenses of $416,500 (induding the 750 legal expense from November 1 but adding income tax record income tax expense, suming the company has a 20% come tax rate. ES Your answer is partially correct. Try again. Prepare the journal entries to record each of the above transactions. (Credit account tities are order presented in the problem. If no entry is required, select "No Entry" for the accoun Date Account Titles and Explanation Debit Credit Jan. 1 Cash 4000 ly Preferred Stock 4000 June 30 Cash 500 X Preferred Stock 500 X Oct. 15 Cash 28,000 > JOO DJIBOROT DOI Dividends Payable-Preferred 28,000 x = Oct. 31 X Prepare all of the closing entries required on October 31, 2022. (Credit account titles are auto Entry" for the account titles and enter 0 for the amounts.) Debit Credit Date Account Titles and Explanation X Oct. 31 (To close revenue account) Oct. 31 Income Summary Expenses (To close expense accounts) Oct. 31 DOI DO DI (To close net income / (loss)) Oct. 31 X (To close dividends) Prepare the retained earnings statement for the year ended October 31, 2022. (List items that COOKIE & COFFEE CREATIONS INC. Retained Earnings Statement For the Year Ended October 31, 2022 Balance, November 1, 2021 Add Net Income / (Loss) DOO Less Cash Dividends-Common ld Cash Dividends-Preferred 00 Balance, October 31, 2022 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the stockholders' equity section of the balance sheet as of October 31, 2022. (For preferred stock, common sto descriptive information provided in the question.) COOKIE & COFFEE CREATIONS INC. Partial Balance Sheet October 31, 2022 Preferred Stock Common Stock 25930 Total Paid in Capital 39930 Less y Treasury Stock Click if you would like to Show Work for this question: Open Show Work docx Continuing Cookie Chronicle 11 Part > Alter eing the company's fiscal year end to be October 31, Natalie and Curtis began operating Cookie Colte Creation Inc. on November 1, 2021. The company had the following selected transactions dung its first year of operations. The new corporation is authorized to see 50,000 shares of $i par common stock and 10,000 shares of no pac Sh cumulative preferred stock Jant Issued an additional preferred shares to Natales brother for $4,000 cash June 30 Repurchased 750 shares issued to the lawyer, for $500 cash. The liwyer had decided to retire and wanted to liquidate all of her assets Oct 15 The company had a very first year of operations and as a result declared dividends of $20,000, payable November 15, 2002. (Indicate the amounts payable to the preferred stockholders and to the common stockholders) Oct 31 The company carte revenues of 1472.500 and is curred expenses of $416.500 (duding the $75 legal expers from November 1 but excluding income tax). Record income tax expense, assuming the company luc204 come tax rate your answers partly correct. Try again Prepare the journames to record each of the above transactions. (Credit in tiles are sufomatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problems. In entry is required select "Mantry for the contesto u them) te Act Titles and nation Det Credit 4000 0000 Tune 500 Preber och 500 Cesti 28,000 28,000