Feb. 20 Issued 11,000 shares of $1 par value common stock at $30 cash per share. Feb. 21 Issued 16,000 shares of $100 par value, 8% preferred stock at $300 cash per share. Jun. 30 Purchased 3,000 shares of its own common stock at $16 cash per share. Sep. 25 Sold 1,500 shares of the treasury stock at $22 cash per share. Income Statement a. Using the financial statement effects template, illustrate the effects of these transactions. Use negative signs with answers when appropriate. When applicable, enter total amount for contributed capital. Balance Sheet Noncash Contrib. Earned Contra Transaction Cash Asset + Asset Liabilities Capital Capital Equity 2/20: Issued common stock shares 2/21: Issued preferred stock shares. 0 = 0 + 0 6/30: Purchased own shares. 0 = 0 + 0 9/25: Sold treasury stock shares. + Revenues Expenses = Net Income 0 = 0 + 0 0 + 0 + 0 0 + 0 + 0 = 0 + 0 + 0 = 0 + 0 = 0 0 + 0 0 = b. Prepare the journal entries for these transactions. General Journal Description Debit Credit 2/20 0 Common stock 0 0 0 0 0 0 2/21 0 Preferred stock 0 0 6/30 > > > 0 0 9/25 0 Treasury stock 0 0 Treasury stock 0 0 0 0 c. Post the journal entries from b to the related T-accounts. Cash Common Stock Additional Paid in Capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Retained Earnings 0 Preferred Stock Treasury Stock 0 0