Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C - Cell to issue 40,000 shares of 9%, $50 par value cumulative preferred stock, and 130,000 shares of $2 par value common stock. During the first month, C - Cell completed the following transactions: (Qs.) (Click the icon to view the transactions.) Requirements Record the transactions in the general journal. Prepare the stockholders' equity section of C - Cell's balance sheet at October 31, 2014. Assume C - Cell's net income for the month was $91,000