Copenhagen Corporation had the attached transactions relating to its stockholder equity accounts for the fiscal year ending December 31, 20X1 REQUIRED: Using the attached forms, prepare general journal entries, in proper form, to record the above transactions on the books of Copenhagen Corporation. Omit explanations. Use the letter of the transaction as the date. Round all calculations to the nearest whole dollar. COPENHAGEN CORPORATION TRANSACTIONS RELATING TO STOCKHOLDERS' EQUTY FOR FISCAL YEAR ENDING DECEMBER 31, 20X1 (a) The company is authorized to issue 50,000 shares of preferred stock with a par value of $25 per share. The company issued 35,000 shares at a price of $28 per share The company is authorized to issue 500,000 shares of common stock with a par value of $5 per share. The company issued 100,000 shares at a price of $12 per share The company sold common stock on a subscription basis. The subscription calls for the purchase of 50,000 shares at a price of $15 per share to be paid for in the following manner 40% ofthe purchase price as a down payment, and two installments for 30% ofthe purchase price with each installment. Received the down payment at this point in time. (b) (d) Repurchased 10,000 shares of the stock issued in (b) above at $11 per share. The company uses the cost method to account for repurchased treasury stock. Received the first installment on the stock subscription (f) Sold 5,000 of the shares repurchased in (d) above at a price of $13 per share. (g) Received the second installment on 45,000 of the shares sold by subscription. One subscriber to the other 5,000 shares defaulted on their final payment and will not be able to pay the remainder due. State law requires that the company may retain 10% of the amount paid in by subscribers in default, with the remaining amount that has been paid in refunded to the subscriber. The company sets up the payable to the subscriber at this time and makes the appropriate adjustment to the stockholder equity accounts. (h) Issued the shares to the common stock subscribers (i) Repurchased 5,000 shares of the stock issued in (b) above at $14 per share G) The company had net income of $275,000 for the year. The appropriate revenue and expense accounts have all been previously closed to the income summary account