C-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C-Mobile to issue 70,000 shares of 6%. $150 par value cumulative preferred stock and 150,000 shares of $1 par value common stock. During the first month, C-Mobile completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Oct. 2: Issued 17,000 shares of common stock for a building with a market value of $160.000 Date Accounts and Explanation Debit Credit i More Info Oct. 2 Oct 2 Oct 6 Oct 9 Issued 17,000 shares of common stock for a building with a market value of $160,000. Issued 900 shares of preferred stock for $160 per share. Issued 16,000 shares of common stock for cash of $80.000. Declared a $18,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock Paid the cash dividend. Oct. 6: Issued 900 shares of preferred stock for $160 per share. Date Accounts and Explanation Oct 10 Oct. 25 Debit Credit Oct. 6 Assume C-Mobile's net income for the month was 596,000. Print Done Oct. 9: Issued 16,000 shares of common stock for cash of $80,000 Date Accounts and Explanation Debit Credit Oct. 9 Oct. 10: Declared a $18,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock Accounts and Explanation Date Debit Credit Oct. 10 Oct. 25: Paid the cash dividend. Date Accounts and Explanation Debit Credit Oct. 25 Oct. 25: Paid the cash dividend. Accounts and Explanation Debit Credit Date Oct. 25 Requirement 2. Prepare the stockholders' equity section of C-Mobile's balance sheet at October 31, 2018. Assume C-Mobile's net income for the month was $96,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) C-Mobile Wireless Balance Sheet(Partial) October 31, 2018 Stockholders' Equity Paid-In Capital: Read the requirements Date Accounts and Explanation Debit Credit Oct. 25 Requirement 2. Prepare the stockholders' equity section of C-Mobile's balance sheet at October 31, 2018. Assume C-Mobile's net income for the month was $96,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) C-Mobile Wireless Balance Sheet (Partial) October 31, 2018 Stockholders' Equity Paid-In Capital: Total Paid-In Capital Total Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next