Ray Holt Corporation has been operating successfully for several years. It is authorized to issued 24,000 shares of common stock and 6,000 shares of 8%, $100 par preferred stock. The stockholders' equity section of its January 1, 2024, balance showed the following: 8% Preferred Stock, $100 par Common Stock, no par, $5 stated value 005 Additional paid-in capital, Preferred Stock Additional paid-in capital, Common Stock Retained Earnings Accumulated Other Income (loss) $190,000 40.000 15,200 184,000 05.900 (5,000) The company engaged in the following transactions in 2024: Mar 2 Issued 350 shares of the 8% preferred stock at a price of $122 per share. Apr Sold 900 shares of common stock for $34 per share. 13 Issued 400 shares of common stock in exchange for land. The stock is selling at $33 per share. June 1 Oct 19 Reacquired 1,000 shares of common stock at $36 per share. The company uses the cost method to account for treasury stock. Issued for $27,000 a combination of 500 shares of common stock and 100 shares of preferred stock. The common and preferred stock are selling for $35 and $125, Jo respectively. Nov 16 Reissued 500 shares of treasury stock at $38 per share. Dec 31 Distributed the full preferred dividend on shares outstanding and $2 per share dividend on common stock outstanding on this date (paying cash for each dividend). 31 Net Income for 2024 was $86.000 Additional information: Weighted average of common stock outstanding was 8,520 shares Common stock at December 31 was selling for $37 per share Instructions: 1. Journalize the transactions for 2024 in good form. Be sure to include explanations and supporting computations. Determine the number shares of (a) preferred stock and (b) common stock outstanding. Prepare a statement of stockholders' equity for Ray Holt Corporation in "good form". Hint: see the example in Chapter 14 of the text. Compute the following ratios: Earnings per share Return on Common Stockholders' equity Price Earnings Ratio