Problem 8-4 (Part Level Submission) The stockholders' equity accounts of Bramble Corp. on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 5,000 shares authorized) $300,000 Common Stock ($4 stated value, 300,000 shares authorized) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Tre 1,000,000 15,000 480,000 707,500 40,000 asury Stock (5,000 common shares) During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity Feb. Issued 5,000 shares of common stock for $35,000. Mar. 20 Purchased 1,000 additional shares of common treasury stock at $9 per share. Oct. 1 Declared a 6% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.40 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017 Dec. 31 Paid the dividend declared on December 1 (a) Prepare a tabular summary that includes the January 1, 2017, balances, Do not include the beginning balance in Retained Earnings in the tabular summary (b) Record the 2017 transactions in the tabular summary (Round answers to 0 decimal places, e.g. 5,275. If a transaction causes a decrease in Assets, Liabilities or Stockholders Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities+ Stockholders Equity Paid-in-Capital Retained Earnings Common + Stock+ PIC in Excess of Stated Value Com. PIC in Excess of Par Value Pref Treasury Cash - Div. Pay. St + Pref. Stock + - Stock RevenueExpense-Dividend (a) Bal 1000000 480000 300000 15000 -40000 (b) Feb. 1 35000 20000 15000 Mar. 20 9000 Oct. 1 18000 18000 Nov. 1 18000 18000 Dec. 1 102000 102000 Dec. 31 102000 102000 (c) Prepare the stockholders' equity section of the balance sheet at December 31, 2017. Include 2017 net income of $312,900 as an increase to the January 1, 2017, Retained Earnings. BRAMBLE CORP Partial Balance Sheet Current Assets Current Liabilities Intangible Assets Long-term Investments 0 Long-term Liabilities Stockholders Equity Total Assets Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Property, Plant and Equipment Additional Paid-in Capital Paid-in Capital Capital Stock Total Capital Stock Total Paid-in Capital Total Paid-in Capital and Retained Earnings Total Stockholders' Equity Total Additional Paid-in Capital