Identifying and Analyzing Financial Statement Effects of Stock Transactions The stockholders' equity section of XPress Media Company for the current year follows. $210,000 8% preferred stock, $25 par value, 50,000 shares authorized; 8,400 shares issued and outstanding Common stock, $10 par value, 200,000 shares authorized; 50,000 shares issued and outstanding Paid-in capital in excess of par value-preferred stock Paid-in capital in excess of par value-common stock Retained earnings 500,000 85,000 300,000 370,000 During the year, the following transactions occurred. Jan 10 Issued 28,000 shares of common stock for $18 cash per share. Jan. 23 Repurchased 8,000 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 2,600 shares of preferred stock for $128,000 cash. Nov, 15 Sold 1,000 of the treasury shares acquired January 23 for $26 cash per share. Required a. Use the financial statement effects template to indicate the effects from each of these transactions. 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 (s in millions) Balance Sheet Ine Cash Asset Noncash Assets Transaction Jan 10 Contrib Capital Liabilities Carned Capital Revenue 0 5 0 Common Stock 0 Jan 23 0 01 0 0 0 . . 0 D Mar. 14 0 0 Treasury Stock 0 . 0 0 0 July 15 0 . 0 . Preferred Stock 0 a a 0 0 0 Nov. 15 . Treasury Stock 0 LU Income Statement h Assets Liabilities Contrib. Capital Earned Capital Net Revenues Expenses 0 Income 0 0 0 D . Common Stock . . 0 . 0- 0 D 0 0 0 . 0 0 0 0 0 0 Support . . Treasury Stock 0 . 0 0 D 0 D 0 0 . Preferred Stock . 0 0 0 0 0 O- 0 0 e e e Treasury Stock 0 6 b. Prepare the stockholders equity section of the balance sheet assuming the company reports net income of $121,000 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 shares Issued and outstanding 5 0 Common stock, 510 par value, 200,000 shares authorized: 0 shares issued, 3,000 shares in treasury) 05 0 0 O Additional paid in capital 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 Total paid in capital Retained earnings 0 0 0 0 3,000 common shares) at cost 0 $ 0 Less: Treasury stock Total stockholders' equity Please answer all parts of the