Question 1 Not complete Marked out of 10.00 P Flag question Accounting for Share Transactions At the beginning of the year, The Mann Corporation, a private entity, decided to go public. A charter of incorporation was constructed which authorized the sale of 10 million shares of $1 par value common stock, 100,000 shares of $100 par value, 8% preferred stock, and 200,000 shares of $5 no-par-value convertible preferred stock. The following shares were sold as part of the firm's initial public offering: 1,000,000 shares of common stock at $10 per share. 100,000 shares of $100 par value, 8% preferred stock at $105 per share. 100,000 shares of $5 convertible, no-par preferred stock at $55 per share. At year-end, the full dividend was declared and paid on both preferred stock offerings. Required Using a spreadsheet, record the financial effects of the shareholders' equity transactions for The Mann Corporation for the year. Enter amounts in thousands (i.e., $10,000,000 = $10,000). Use a negative sign with answers to indicate a reduction in an account balance. The Mann Corporation Common Transaction (in thousands) Shares IPO 8% Preferred IPO No-par Preferred IPO No-par 8% Preferred Preferred Dividend Dividend Balance Sheet Totals 1 At year-end, the full dividend was declared and paid on both preferred stock offerings. Required Using a spreadsheet, record the financial effects of the shareholders' equity transactions for The Mann Corporation for the year. Enter amounts in thousands (i.e., $10,000,000 = $10,000). Use a negative sign with answers to indicate a reduction in an account balance. The Mann Corporation Common Transaction (in thousands) Shares IPO Assets 8% Preferred IPO No-par Preferred IPO 8% Preferred Dividend No-par Preferred Dividend Balance Sheet Totals Cash $ $ $ $ $ $ Shareholders' Equity Common Stock APIC - Common N $100 Preferred Stock APIC-Preferred $5 Conv. Preferred Retained Earnings Total Shareholders' Equity $ ni rice Check 1