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ASSIGNMENT RESOURCES roblem 15 1 1.3. tiomiewark On January 5, 2017, Larkspur Corporation received a charter granting the right to issue 4,600 shares of100 par value, 8% cumulative and nonparticipating prefered stock, and 53.300 shares of $10 par value common stock. It then complcted thesc tronsactions Jan. 11 Issued 20,100 shares of common stock at $17 per share. Feb. 1 Issued to Sanchez Corp. 4,200 shares of preferred stock for the following essets: equipment with a fair value of $45,200; a factory building with fair value of $172,000; and land with an appraised Prablem 15-4 Review Score July 29 Aug. 10 Dec. 31 Dec. 31 value of $262,000 Purchased 2,000 shares of common stock at 518 per share, (Use cost method.) Sold thc 2,000 trcasury sharcs at $15 per sharc. Doclared 50.25 per share cash dividend on the common stock and declared the preferred dividend. Closed the Income Summary account. There was 163,500 net income Record the journal entries for the transactions listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually, If no entry is required, select No Fntry" for the acount titles and enter for theamounts. Rerord entries in the order displayed in the problem statement. Round answers to decimal places, e.g. $5,75) manually. If no entry is rguired, select Date Arcount Titles and Fxplanation Dehit Credit Feh.1 liens. Agrnment prhac y Palicy I s maa , 1mn wile sons, Trc. All Rights Reserved. A Division rf khn wiryasinns, Inc. Version 4.74.1.1 IMET CALCLAIOR HILL SCREEN PRINTER VERSION-BACK T RESOURCES ch. 15. Homerork Problem 15.2 Rovlcw Score Review Results by Study Ohjcctivc Aug. 10 Prepare the stockholders equity section of Larkspur Corporation's balance sheet as of December 31, 2017. (Enter account name only and do not provide descriptive information.) LARKSPUR CORPORAIION All Rights Reserved. A Division o lohn Wley & Sons Inc Verslon 4.24.12.1