gnments: INTRO TO FIN ACC M Question 2 - HW 11A - Connect Saved E11-6 (Algo) Recording and Reporting Stockholders' Equity Transactions [LO 11-2, Ava School of Learning obtained a charter at the start of the year that authorized 50,000 shares of no-pa shares of preferred stock, par value $10. During the year, the following selected transactions occurred: a. Collected $43 cash per share from four individuals and issued 5,300 shares of common stock to each. b. Issued 6,300 shares of common stock to an outside investor at $43 cash per share. c. Issued 8,300 shares of preferred stock at $23 cash per share. Required: 1. Prepare the journal entries indicated for each of these transactions. 2. Prepare the stockholders' equity section of the balance sheet at December 31. At the end of the year, the income of $39,000. No dividends were declared. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries indicated for each of these transactions. (If no entry is required for a transaction/ever Entry Required" in the first account field.) View transaction list