Problem! Sanatoga Corporation issued 80,000 shares of $2 par value common stock at a price of $8 per share. Sanatoga also issued 4,000 shares of $100 par value 9% cumulative preferred stock at $105 dollars per share. At the end of the current year, Sanatoga had $280,000 of income and paid the required dividends to the preferred stockholders Required: Prepare the stockholders equity section of the balance sheet for Sanatoga Corporation in the space below: Stockholders Equity Problem 2 1. Luxor corporation had the following transactions related to Capital Stock during the year 2020. Prepare the necessary entries in the Journal Below July 1 Issued 8,000 shares of 8% cumulative Preferred Stock ($100 par value) at a price of $105. July 1 Issued 20,000 shares of its $4 par value common Stock at a price of $12 per share. Required: Prepare the journal entries for the above transactions. Note: Omit Explanations for these transactions July 1 July 1 3. Accounts in the Stockholders equity section of the balance sheet of XYZ corporation is shown below. $ 550,000 2,000,000 8% Cumulative preferred stock, $100 par value, Common Stock, $5 par value, 400,000 shares authorized and issued Additional Paid In Capital Preferred Common Retained Earnings 25,000 4,800,000 2,200,000 Please answer the following questions. (Be sure to show your computations in the space provided) How many shares of preferred stock are outstanding at this date? sh. b. What is the average issuance price per share of common stock? per share C. What is the legally restricted capital of this company? d. What is the total Paid in Capital of this company? What is the amount of the dividend that should be paid annually to the preferred stockholders