Identifying and Analyzing Financial Statement Effects of Stock Transactions Following is the stockholders' equity of Sharp Corporation at the start of the current year. 8% preferred stock, $50 par value, 10,000 shares authorized; 6,400 shares issued and outstanding Common stock, $20 par value, 50,000 shares authorized; 20,000 shares issued and outstanding $320,000 400,000 Paid-in capital in excess of par value-preferred stock 56,000 Paid-in capital in excess of par value-common stock Retained earnings 308,000 Total stockholders' equity 190,400 $1,274,400 The following transactions, among others, occurred during the current year. Jan. 15 Issued 800 shares of preferred stock for $60 cash per share. Jan. 20 Issued 3,200 shares of common stock at $34 cash per share. May. 18 Announced a 2-for-1 common stock split, reducing the par value of the common stock to $10 per share. The number of shares authorized was increased to 80,000 shares. June. 1 Issued 1,600 shares of common stock for $44,800 cash. Sep. 1 Repurchased 2,000 shares of common stock at $16 cash per share. Oct. 12 Sold 720 treasury shares at $19 cash per share. Dec. 22 Issued 400 shares of preferred stock for $57 cash per share. Required Use the financial statement effects template to indicate the effects of each transaction. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Balance Sheet Income Statement Cash Transaction Jan. 15 Asset + Noncash Assets Liabilities 0 0 = 0 Contrib. Capital + Earned Revenues 0 0 0 Net Expenses = Income 0 = 0 Preferred stock 0 Jan. 20 0 0 = 0 0 0 0 0 = 0 Common stock 0