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please help, will upvote After establishing their company's fiscal year-end to be October 31, Natalie and Curtis began operating Cookie & Coffee Creations Inc. on

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After establishing their company's fiscal year-end to be October 31, Natalie and Curtis began operating Cookie \& Coffee Creations Inc. on November 1, 2021. The company had the following selected transactions during its first fiscal year of operations. The new corporation is authorized to issue 50,000 shares of $1 par common stock and 10,000 shares of no par, $6 cumulative preferred stock. Jan. 1 Issued an additional 800 preferred shares to Natalie's brother for $4,000cash. June 30 Repurchased 750 shares issued to the lawyer, for $500 cash. The lawyer had decided to retire and wanted to liquidate all of her assets. Oct: 15 The company had a very successful first year of operations and as a result declared dividends of $28,000, payable November 15, 2022. (indicate the amounts payable to the preferred stockholders and to the common stockholders.) Oct. 31 The company earned revenues of $472,500 and incurred expenses of $416,500 (including the $750 legal expense from November 1 but excluding income tax). Record income tax expense, assuming the company has a 20% income tax rate. Partal Balance sheet October 31, 2022 Stockholders' Equity Property. Plant and Equipment CapitalStock Preferred 5tock 5 Common Stock Total Assets Retained Earnings Total Paid in Capital and Retained Earnings Less r: Treasury Stock

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