Protected View Enable Editing Accounting 205 Homework Assignment Chapter 11 Name: Instructions: Print out this assignment and answer the following questions. The stockholders' equity accounts of Cyrus Corporation on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 5,000 shares authorized) $ 300,000 Common Stock ($4 stated value, 300,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par Value-Preferred Stock 15,000 Paid-in Capital in Excess of Stated Value--Common Stock 480,000 Retained Earnings 688,000 Treasury Stock (5,000 common shares) 40,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb 1 Issued 8,000 shares of common stock for $50,000 Mar 20 Purchased 1,000 additional shares of common treasury stock at $5 per share Declared a 50.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022 31 Paid the dividend declared on December 1 Instructions Journalize the above transactions. (Note: Be sure to properly calculate the number of common shares outstanding.) Dec 1