QUESTION 1 ************** During 2021. Mandalay Company entered the following related to their stockholder's equity 100,000,000 common shares AUTHORIZED - $1 par per common share Question. If Mandalay issued 40,000,000 common shares on January 9, for $20/share, then what is the impact on Paid in Capital (PIC) in dollars? QUESTION 2 ************* On March 11, Mandalay also issued 5,000 common shares in exchange for custom-made equipment. Mandalay's shares have recently been trading at 520/share. Question: What is the total change in NET ASSETS in dollars from this issuance? QUESTION 3 ************** Suppose that in year 2. a new accountant for Mandalay makes these entries to record the reacquisition of shares that were reacquired and restored to the status of authorized but not issued (retired). Assume the Treasury stock cost method is used where appropriate Common stock Retained earnings Cash S2M $48M $50M Transaction: They retired to authorized shares 2,000,000 million shares of cs by paying $50M Question: In the proper entry to record the reacquisition of these shares, APIC-CS should be: 1. Increased by $10,000,000 2. Decreased nu $10,000,000 3. Increased by $38,000,000 4. Left alone 5. Decreased by $38,000,000 QUESTION 4 ************** Question: In Mandalay's year 2 entry to retire shares, Retained Earnings should be: 1. Decreased by $50,000,000 2. Decreased by $10,000,000 3.Left alone 4. Increased by $50,000,000 5. Increased by $10,000,000 QUESTION 5 ************** In Mandalay's year two entry to retire the common shares, Treasury Stock should be: 1. Increased by $10,000,000 2. Increased by $50,000,000 3. Left Alone 4. Increased by $40,000,000 5. Decreased by $50,000,000