Required information

Problem $11-26$A $($Algo$)$ Recording and reporting stock

transactions and cash dividends across two accounting

cycles LO $11-3,11-6$

$[$The following information applies to the questions displayed below.$]$

Sun Corporation received a charter that authorized the issuance of

$115,000$ shares of $$4$ par common stock and $22,000$ shares of $$100$ par,

$5$ percent cumulative preferred stock. Sun Corporation completed the

following transactions during its first two years of operation.

Year $1$

January $5$ Sold $17,250$ shares of the $$4$ par common stock for

$$6$ per share.

January $12$ Sold $2,200$ shares of the $5$ percent preferred

stock for $$110$ per share.

April $5$ Sold $23,000$ shares of the $$4$ par common stock for

$$8$ per share.

December $31$ During the year, earned $$301,500$ in cash revenue

and paid $$244,700$ for cash operating expenses.

December $31$ Declared the cash dividend on the outstanding

shares of preferred stock for Year $1.$ The

dividend will be paid on February $15$ to

stockholders of record on January $10,$ Year $2.$

Year $2$

February $15$ Paid the cash dividend declared on December $31,$

Year $1.$

March $3$ Sold $3,300$ shares of the $$100$ par preferred stock

for $$120$ per share.

May $5,$ Purchased $500$ shares of the common stock as

treasury stock at $$8$ per share.

December $31$ During the year, earned $$248,500$ in cash revenues

and paid $$177,200$ for cash operating expenses.

December $31$ Declared the annual dividend on the preferred

stock and a $$0\mathrm{.}25$ per share dividend on the

common stock.

Problem $11-26$A $($Algo$)$ Part a

Required

a$.$ Organize the transaction data in accounts under an accounting equation.