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Indigo Corporation was organized on January 1, 2022. It is authorized to issue 19,200 shares of 7%, $50 par value preferred stock and 470,000 shares
Indigo Corporation was organized on January 1, 2022. It is authorized to issue 19,200 shares of 7%, $50 par value preferred stock and 470,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. 10 1 Jan. Mar. May Sept. Nov. 1 Issued 75,000 shares of common stock for cash at $5 per share. Issued 1,300 shares of preferred stock for cash at $55 per share. Issued 120,000 shares of common stock for cash at $7 per share. Issued 6,000 shares of common stock for cash at $9 per share. Issued 4,000 shares of preferred stock for cash at $55 per share. 1 1 Prepare the paid-in capital portion of the stockholders' equity section at December 31, 2022. INDIGO CORPORATION Partial Balance Sheet $ ta
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