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Concord Corp. completed the following transactions in 2014, the first year of operation: 1. Issued 28,000 shares of $20 par common stock for $30 per

Concord Corp. completed the following transactions in 2014, the first year of operation:

1. Issued 28,000 shares of $20 par common stock for $30 per share.
2. Issued 4,700 shares of $53 par, 6 percent, preferred stock at $55 per share.
3. Paid the annual cash dividend to preferred shareholders.
4.

Issued a 5 percent stock dividend on the common stock. The market value at the dividend declaration date was $39 per share.

5. Later that year, issued a 2-for-1 split on the 29,400 shares of outstanding common stock.
6. Earned $256,300 of cash revenues and paid $133,700 of cash operating expenses.

Record each of these events in a horizontal statements model and prepare the stockholders equity section of the balance sheet at the end of 2014.

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