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: 7,560 shares issued and outstanding $189,000 Common stack, $10 par value, 200,000 shares authorized: 45,000 shares issued and outstanding 450,000 Paid-in capital in excess of par value-preferred stock 76,500 Paid-in capital in excess of par value-common stock 270,000 Retained earnings 333,000 During the year, the following transactions occurred. Jan. 10 Issued 25,200 shares of common stock for $18 cash per share. Jan. 23 Repurchased 7,200 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 2,340 shares of preferred stock for $115,200 cash. Nov. 15 Sold 900 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. Balance Sheet Liabilities Transaction Noncash Assets Contrib. Capital Revenues Income Statement Expenses Cash Asset Net Earned Capital Income Jan. 10 Common Stock Jan 23 + Mar. 14 . + Treasury Stock July 15 + Preferred Stock + Nov. 15 Treasury Stock b. Prepare the stockholders' equity section of the balance sheet assuming the company reports net Income of $ 108,900 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 $ Common stock, $10 par value, 200,000 shares authorized: shares issued, (2,700 shares in treasury) $ 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 common shares) at cost Less: Treasury stock 2,700 Total stockholders' equity