Question 7 2 pts A company had net income of $137,000. The weighted-average common shares outstanding were 80,000. The company declared a $16,100 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions. Compute the company's earnings per share is and place it in the box provided. Round your answer to two decimal places. Question 8 15 pts A corporation was formed on January 1, 2023. In its articles of incorporation, 35,000 shares of $15 par value, 4%, Preferred Stock was authorized, and 750,000 shares of $1.50 par value, common stock was authorized. Required. The corporation entered into the following equity transactions. a) Prepare journal entries for each of the following transactions on either a blank piece of paper or on a blank copy of the General Journal. If using a blank piece of paper, use 4 columns labeled Date, Account Titles, Debit and Credit. OMIT DESCRIPTIONS b) After all transactions are recorded, determine the following amounts that would be shown on the year-end December 31. 2023 balance sheet and enter your response in the boxes below. Use commas but no $ in your responses. 1. Preferred stock 2. Common stock 3. Additional paid in capital 4. Treasury stock Transactions: Jan 2 Feb 2 Issued 320,000 shares of common stock for $20 per share. Issued 6,000 shares of preferred stock for $40 per share. Sep 20 Nov 14 Nov 14 Dec 18 Jan 9, 2024 Repurchased 12,000 shares of common stock for $35 per share. The company expects to reissue the stock after the threat of a hostile takeover has passed. The Board of Directors declared a $0.10 per share dividend on the outstanding shares of common stock. payable on December 18 to shareholders of record on Nov 30. The Board of Directors declared the dividend on the outstanding shares of preferred stock, payable on December 18 to stockholders of record on November 30. Paid the common stock and preferred stock dividends. Reissued all of the shares of treasury stock for $40 per share. Not saved Submit Quis