E11-2 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy [LO 11-2, LO 11-3] Skip to question [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: Issued 5,500 shares of common stock for cash at $20 per share. Issued 1,500 shares of common stock for cash at $23 per share. E11-2 (Algo) Part 1 Required: Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.)

assetsliabilitiesstockholders equitya a b b