On March 20, Haymaker Corporation issues 7,500 shares of $60 par value preferred stock at $90 cash per share. On November 18, the company purchases 1,500 shares of previously issued $10 par value common stock at $38 cash per share.

Use the financial statements effects template to report the effects of both transactions.

Use negative signs with your answers, when appropriate. Select "N/A" as your answer if a part of the equation is not affected.

Use negative signs with your answers, when appropriate. Select "N/A" as your answer if a part of the equation is not affected.

	Balance Sheet				Income Statement
	Cash		Noncash				Contributed		Earned		Contra								Net
Transaction	Asset	+	Assets	=	Liabilities	+	Capital	+	Capital	-	Equity				Revenue	-	Expenses	=	Income
Issued preferred stock	Answer		Answer				Answer		Answer
	AnswerAdditional paid-in capitalCashCommon stockCompensation expenseDividends payablePreferred stockRetained earningsTreasury stockN/A		AnswerAdditional paid-in capitalCashCommon stockCompensation expenseDividends payablePreferred stockRetained earningsTreasury stockN/A				Preferred stock		AnswerAdditional paid-in capitalCashCommon stockCompensation expenseDividends payablePreferred stockRetained earningsTreasury stockN/A
							Answer
							AnswerAdditional paid-in capitalCashCommon stockCompensation expenseDividends payablePreferred stockRetained earningsTreasury stockN/A
Repurchased common stock	Answer		Answer				Answer		Answer		Answer
	AnswerAdditional paid-in capitalCashCommon stockCompensation expenseDividends payablePreferred stockRetained earningsTreasury stockN/A		AnswerAdditional paid-in capitalCashCommon stockCompensation expenseDividends payablePreferred stockRetained earningsTreasury stockN/A				AnswerAdditional paid-in capitalCashCommon stockCompensation expenseDividends payablePreferred stockRetained earningsTreasury stockN/A		AnswerAdditional paid-in capitalCashCommon stockCompensation expenseDividends payablePreferred stockRetained earningsTreasury stockN/A		AnswerAdditional paid-in capitalCashCommon stockCompensation expenseDividends payablePreferred stockRetained earningsTreasury stockN/A