Exercise 15-18 Carla Company reported the following amounts in the stockholders' equity section of its December 31, 2016, balance sheet Preferred stock, 10%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (103,500 shares authorized, 20,700 shares issued) Additional paid-in copital Retained carnings 103,500 114,000 423,000 $820,500 Total During 2017, Carla took part in the following transactions concerning stockholders equity 1. Paid the annual 2016 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2016. 2. Purchased 1,500 shares of its own outstanding common stock for $43 per share. Carla uses the cost method. 3. Reissued 600 treasury shares for land valued at $27,100 4. Issued 550 shares of preferred stock at $105 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $41 per share. 6. Issued the stock dividend . Declared the annual 2017 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2018. Prepare journal entries to record the transactions described above. (Credit account titles are automatically indented when amount is entered. Do not indent manually, If no entry is required, select "No Entry for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2. 3. 5. 6 7. LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare the December 31, 2017, stockholders' equity section. Assume 2017 net income was $336,000. (Enter account name only. Do not provide any descriptive information.) CARLA COMPANY Equity Click if you would like to Show Work for this question: en Show Work