Great Adventures Problem AP10-1 (GL) Tony and Suzie have purchased land for a new camp. Now they need money to build the cabins. dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see ifthey could borrow an additional $1 million, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events They decided to go ahead and sell shares of stock in the company to raise the additional funds for the camp. Great Adventures has authorized $1 par value common stock. When the company began on July 1, 2021, Tony and Suzie each purchased 10,000 shares (20,000 shares total) of $1 par value common stock at $1 per share. The following transactions affect stockholders' equity during the remainder of 2022: November 5 Issue an additional 108,000 shares of common stock for $10 per share. November16 Purchase 10,800 shares of its ovm common stock (i.e., treasury stock) for $19 per share. November24 Resell 4,800 shares of treasury stock at $20 per share. December 1 Declare a cash dividend on its common stock of $12,200 ($0.10 per share) to all stockholders of record on December 15. DecemberZO Pay the cash dividend declared on December 1. December31 Pay $820,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. No Date General Journal Debit Credit Nov 05 Cash 1,080,000 Additional Paid-in Capital 972,000 Common Stock V 108,000 2 Nov 16 Treasury Stock 205,200 Cash 205,200 3 Nov 24 Cash V 96,000 Treasury Stock V 91,200 Additional Paid-in Capital V 4,800 4 Dec 01 Dividends V 12,200 Dividends Payable V 12,200 5 Dec 20 Dividends Payable 12,200 Cash 12,200 6 Dec 30 Buildings V 820,000 Cash V 820,000 9 Dec 31 Retained Earnings V 12,200 Dividends v 12,200Choose the appropriate accounts to be reported on the income statement. The unadjusted, or post-closing balances will appear for each account, based on your selection. Post-closing v Dates: Nov 05 v to: Dec 31 Net Sales Gross Prot Operating Expense Total Operating Expenses Operating Income (Loss) . General General . Income 1 E Requirement Journal Ledger Trial Balance Statement Balance Sheet The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separately on the balance sheet. The unadjusted, or post-closing balances will appear for each account, based on your selection. Post-closing v Dates: Nov 05 v to: Dec 31 Assets Liabilities Current Assets: Current Liabilities: _ Total Current Liabilities Total CurrentAssets Total Liabilities Long-term Assets: Stockholders' Equity Total Stockholders' Equity 0 Total assets $ 0 Total Liabilities and Stockholders' Equity $ 0 000000000000