(%) P13-40A (similar to) Question Help Terrific Comfort Specialists, Inc. reported the following stockholders' equity on its balance sheet at June 30, 2018: (Click the icon to view the partial balance sheet) Read the requirements Requirement 1. Identify the different classes of stock that Terrific Comfort Specialists has outstanding. Terrific has preferred stock and common stock outstanding Requirement 2. What is the par value per share of Terrific Comfort Specialists' preferred stock? The par value of preferred stock is S Requirement 3. Make two summary journal entries to record issuance of all the Terrific Comfort Specialists' stock for cash. Expla Data Table per share any journal entries) Stockholders Equity Paid-In Capital: egi Requirements Preferred Stock-7%. ? Par Value: 675,000 shares Dat it 1,300,000 authorized, 260,000 shares issued and outstanding Common Stock-$1 Par Value: 5,000,000 shares 1. dentify the different classes of stock that Terrific Comfort Specialists has 2. What is the par value per share of Terrific Comfort Specialists' preferred 3. Make two summary jounal entries to record issuance of all the Terrific 4. No preferred dividends are in arrears. Journalize the declaration of a authorized, 1,360,000 shares issued and outstanding stock? Comfort Specialists' stock for cash. Explanations are not required. 1,360,000 3,000,000 5,660,000 12,400,000 $ 18,060,000 outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings S700,000 dividend at June 30, 2018, and the payment of the dividend on July 20, 2018. Use separate Dividends Payable accounts for preferred and common stock. An explanation is not required. Total Stockholders' Equity Print Done Print Done