Question: 1. a. Sold 2,700 shares of $50 par value preferred stock at $53.50 per share. 2. b. Declared the annual cash dividend of $3.70 per share on common stock. There were 7,300 shares of $1 par value common stock issued and outstanding throughout the year. 3. c. Issued 5,000 shares of $50 par value preferred stock in exchange for a building when the market price of preferred stock was $53 per share 5. e. Sold 500 shares of the preferred stock held in treasury (see d for $57 per share. 6. f equred information 2.00 poists Required Show the effect if any) of each of the above transactions on each financial statement caegory by selecting a phus()or minus() sign and the amount in the appropriate colun.Do not show items thatl affect net income in the retained eamings colum Cash Cther Assets Treasury Seck Net inceme Require 3.00 points