Help me solve this question please

Especially the requirement (b) ,clear explanation,thank you!

LO 3 LO4 Stock Transactions and Analysis The following selected items and amounts were taken from the balance sheet of Quale Company as of December 31, 2012: P 11-32 $ 93,000 850,000 150,000 50,000 Cash... Property, plant, and equipment. .... Accumulated depreciation .......... Liabilities ....... Preferred stock (7%, $100 par, noncumulative, 10,000 shares authorized, 5,000 shares issued and outstanding) Common stock ($10 par, 100,000 shares authorized, 80,000 shares issued and outstanding)............. Paid in capital in excess of par, preferred stock.. Paid in capital in excess of par, common stock ....... Paid in capital, treasury stock.......... Retained earnings.. 500,000 800,000 1,000 125,000 1,000 310,000 Required: For each of parts (1) to (5), (a) prepare the necessary journal entry (or entries) to record cach trans action, and (b) calculate the amount that would appear on the December 31, 2012, balance sheet Investing and Financing Activities 538 Part 3 as a consequence of this transaction only for the account given. (Note: In your answer to each part of this problem, consider this to be the only transaction that took place during 2012.) 1. Quale issued 200 shares of common stock in exchange for cash of $4,000. a. Entry b. Paid-in Capital in Excess of Par, Common Stock 2. Quale issued 200 shares of preferred stock at a price of $102 per share. a. Entry b. Paid-in Capital in Excess of Par, Preferred Stock Quale issued 500 shares of common stock in exchange for a building. The common stock is not actively traded, but the building was recently appraised at $11,000. a Entry b. Property, Plant, and Equipment 4. Quale reacquired 1,000 shares of common stock from a stockholder for $23,000 and subsequently reissued the shares to a different investor for $21,500. (Note: Make two entries.) a. Entries b. Paid-In Capital, Treasury Stock 5. The board of directors declared dividends of $75,000. This amount includes the current- year dividend preference on preferred stock, with the remainder to be paid to common shareholders. a. Entry b. Retained Earnings