Identifying and Analyzing Financial Statement Effects of Stock Transactions The stockholders' equity section of XPress Media Company for the current year follows. 8% preferred stock, $25 par value, 50,000 shares authorized; 12,600 shares issued and outstanding $315,000 Common stock, $10 par value, 200,000 shares authorized; 75,000 shares issued and outstanding 750,000 Paid-in capital in excess of par value-preferred stock 127,500 Paid-in capital in excess of par value-common stock i 450,000 Retained earnings 555,000 During the year, the following transactions occurred. Jan. 10 Issued 42,000 shares of common stock for $18 cash per share. Jan. 23 Repurchased 12,000 shares of common stock at $20 cash per share. Mar. 14 Sold one-half of the treasury shares acquired January 23 for $22 cash per share. July. 15 Issued 3,900 shares of preferred stock for $192,000 cash. Nov. 15 Sold 1,500 of the treasury shares acquired January 23 for $26 cash per share. 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 Transaction Cash Asset Noncash Assets Jan. 10 Mar 14 Mys Nov 15 Balance Sheet Income Statement Contrib. Capital Earned Capital Revenues Expenses Net Income Common Stock Teasury Stack Preferred Stock b. Prepare the stockholders' equity section of the balance sheet assuming the company reports net income of $181,500 for the current year. Note: Do not use a negative sign with any of your answers. XPRESS MEDIA COMPANY Stockholders' Equity Paid-in capital 8% preferred stock, $25 par value, 50,000 shares authorized 0 shares issued and outstanding Common stock, $10 par value, 200,000 shares authorized; 0 shares issued (4,500 shares in treasury) 05 Additional paid-in capital Total paid in capital Retained nings Paid-in capital in excess of par value-preferred stock Paid-in capital in excess of par value-common stock Paid-in capital from treasury stock Less Treasury Stock (r Total stockholders' equity) 4.500 common shares) at cost 0 D 0 0 0