Pharoah Corporation was organized on June 1,2025 . It is authorized to issue 100,000 shares of 5%,$100 par value preferred stock, and 1,750,000 shares of no par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year: June 15 Issued 169,000 shares of common stock for cash at \$5 per share. June 30 Issued 25,800 shares of preferred stock for cash at \$103 per share. Aug. 15 Issued 21,200 shares of common stock for a factory building. The asking price of the factory building was $159,000; the appraised value of the factory building was $148,400. Sept. 1 Issued 200,000 shares of common stock for cash at \$7 per share. Oct. 1 Issued 5,100 shares of common stock to attorneys in payment of their bill of $40,800 for services rendered in helping the company organize. Oct. 15 Issued 24,500 shares of common stock for cash at $8.50 per share. Nov. 1 Issued 5,500 shares of preferred stock for cash at \$105 per share. Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) The outstanding capital stock of Wildhorse Corporation consists of 2,100 shares of $100 par value, 8% preferred, and 4,800 shares of $50 par value common. Assuming that the company has retained earnings of $88,500, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions. a. The preferred stock is noncumulative and nonparticipating. (Round answers to 0 decimal places, e.g. 38,487 .) b. The preferred stock is cumulative and nonparticipating. (Round answers to 0 decimal places, e.g. 38,487 .)