QUESTION 7 The following transactions occurred during 2017: Feb 3 Apr 25 Jun 15 Oct 24 Issued 2,500 shares of preferred stock for $75 per share (total received S187 ,500) Issued 50,000 shares of Sl par value common stock for $15 per share (total received $750 000) Repurchased 157000 shares of common stock (TREASURY STOCK) at $10.50 per share (total paid S157,500) Sold 7,500 shares of treasury stock bought on June 15 for S24 per share (total received $180,000) use the financial statement effects template, below, to record these transactions. Balance Sheet Income Statement Expen- Cash Transacon Feb 3 Apr 25 June 15 Oct 24 Noncash Liabil- ities Contrib. Capital Earned Capital Rev- enues Income