Problem 15- On January S, 2017, Bonita Corporation received a charter granting the right to issue 5,100 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 48,600 shares of $10 par value common stock. It then completed these transactions .. Issued 19,900 shares of common stock at $16 per share. H Issued to Sanchez Corp. 4,100 shares of preferred stock for the following assets: equipment with a fair value of $52,500; a factory building with a fair value of $166,000; and land with an appraised value of $252,000 Purchased 1,800 shares of common stock at $18 per share. (Use cost method.) Sold the 1,800 treasury shares at $15 per share. Declared a so.45 per share cash dividend on the common stock and declared the preferred dividend ks i Closed the Income Summary account. There was a $172,200 net income Record the journal entries for the transactions listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select ", Entry for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement. Round answers to 0 decimal places, e.g.$5,275 Prepare the stockholders' equity section of Bonita Corporation's balance sheet as of December 31, 2017 (Enter account name only and do not provide descriptive information) BONITA Problem 145 Foley Corporation has the following capital structure at the beginning of the year: 496 Preferred stock, $50 par value, 20,000 shares authorized, 7,000 shares issued and outstanding mmo Common stock, $10 par value, 60,000 shares authorized, 44,000 shares issued and outstanding,000 Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholders' equity 18,000 55.000 Record the following transactions which occurred consecutively. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 1. A total cash dividend of $105,000 was declared and payable to stockholders of record. Record dividends payable on common and preferred stock in separate accounts. A 1S% common stock dividend was declared. The average fair value of the common stock is S24 a share. s Assume that net income for the year was $146,000 (record the closing entry) and the board of directors appropriated $66,000 of retained earnings for plant expansion Construct the stockholders' equity section incorporating all the above information ATION Balance Sheet (Partial)