Novak Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 July 1 Issued 23,600 shares for cash at $51 per share. Issued 35,400 shares for cash at $56 per share. (a) Prepare a tabular summary to record the transactions. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities PIC in Excess of Par Com. Cash Common Stock Feb. 1 $ $ $ $ $ July 1 Stockholders' Equity pital Reta PIC in Excess of Par Value Pref. + Pref. Stock Revenue Expense $ $ $ $ $ uity Retained Earnings venue Expense Dividend $ $