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Please help me with this! I believe im doing it right but im not positive. Date Problem Prev. Solvea Tte equity accounts of Indigo on

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Please help me with this! I believe im doing it right but im not positive.
image text in transcribed

Date Problem Prev. Solvea Tte equity accounts of Indigo on Jar-wary 1.2025. were as folltms. Preferred (7%, S 100 par noncumulative. shares au thorized) Stock ($4 value, Shares Paid-in Capital in Excess Of Parpreferred Sttrk Paid-in Capital in Excess of Stated ValueComrnon Stock Retained Earnings Treasury Stock ( 10,000 conunon shar es) 2000000 2025. the had transactions events to its equity. Feb. Mar. Nov. Dec 20 31 Issued 10.000 Shares Of 2 OOO additional Shares Of at $7 Share. Declared a 7% cash dividend on cyeferred stock. payable t. paid the dividend declared on October 1. Declared a SO. 50 cash dividerul to comtrm of record on Decerntrr 15. payable December 31.20 Determined that net for paid the declared on Account Titles and Explanation (To close Income Summary and transfer net income to Retained Earnings) (To close Cash Dividends to Retained Earnings) (To record payment of cash dividends payable)

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