Marked out of 20.00 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 authorizest 12.600 shares asued and outstanding Common stock $10 par value. 200.000 shares authorized $315,000 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 Retained earnings 450.000 555.000 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. 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: indicat a decrease in an account category by including a negative sign with the amount Transaction Cash Asset Noncash Assets Balance Sheet Liabilities Contrib. Capital Earned Capital Revenues Jan. 10. Jan. 23 Mar. 14 Additional Paid-in Capit cs Additional Paid-in Capital PS cash Common Stock Preferred Stock Retained Earnings Treasury Stock N/A July 15 Nov. 15 Common Stock Treasury Stock Preferred Stock : Treasury 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 Income Statement Expenses 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 shares issued and outstanding Additional paid-in capital Total paid-in capital Retained earnings Less: Treasury stock (r. Total stockholders' equity Common stock, $10 par value. 200,000 shares authorized: 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 4.500 shares issued. (4,500 shares in treasury) common shares) at cost S Previous Save Answers