Please answer 1d and 2

Problem 10-75A Statement of Shareholders' Equity At the end of 2017, Jeffco Inc. had the following equity accounts and balances: Common shares, no par (175,000 shares issued and $1,926,400 outstanding) Retained earnings 310,000 During 2018, Jeffco engaged in the following transactions involving its equity accounts: a. Issued 8,000 common shares for $35 per share. b. Issued 1,000 shares of 9%, $120 stated value preferred shares at $125 per share. c. Declared and paid cash dividends of $15,000. d. Repurchased and cancelled 500 common shares for $52 per share. Required: 1. Prepare the journal entries for a through d. For a compound transaction, for those boxes in which no entry is required, leave the box blank. Cash 280,000 a. 2018 Common Shares 280,000 (Record issue of common shares) Cash 125,000 b. 1. Prepare the journal entries for a through d. For a compound transaction, for those boxes in which no entry is required, leave the box blank. a. 2018 Cash 280,000 Common Shares 280,000 (Record issue of common shares) b. Cash 125,000 120,000 5,000 Preferred Shares Contributed Surplus-Preferred Shares (Record issue of preferred shares) Retained Earnings (or Dividends) Cash (Record declaration and payment of dividends) Retained Earnings C. 15,000 15.000 26,000 X d. Common Shares Cash 26,000 (Record repurchase of common shares) De 2. Assume that 2018 net income was $89,600. Prepare a partial statement of financial position showing only the shareholders' equity section at December 31, 2018 Jeffco, Inc. Statement of Financial Position (Partial) December 31, 2018 Shareholders' equity: Preferred shares, 9%, $120 stated value 120,000 Common shares, no par Contributed surplus: Preferred shares 5.000 Total capital stock Retained earnings 310,000 X 2.690,000 Total shareholders' equity Feedback