Cullumber Corporation is authorized to issue both preferred and common stock. The par value of the preferred is $$50.$ During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.

Feb. $1$ Issued $29,200$ shares for cash at $$51$ per share.

July $1$ Issued $43,800$ shares for cash at $$56$ per share.

$($a$)$

Prepare a tabular summary to record the transactions. Include margin explanations for the changes in revenues and expenses. Iff a transaction causes a decrease in Assets, Liabilities or Slochholders Equity, place a nesative sign $($or paren theses$)$ in front of the amount entered for the particular Asset, Liability or Equity item thet was reduced.

$\backslash$table$[[,,$Assets,$=,$Liabilitiles,$+1,,,,,],[,,$Cash,,,Common Stock,$+,,\backslash$table$[[$Id in Capital$],[$Par Value C$]]],[$Feb$.1,$S$,,$$$,,,$$$,,,$$$,],[$July $1,,,,,,,,,,]]$