Required information Problem 11.26A (Algo) Recording ond reporting stock transactions and cash dlvidends across two accounting cycles LO 11.3, 11.6 [The following information apphes to the questions dispiayed below] Sun Corporation recelved a charter that authorized the issuance of 107.000 shares of $5 par common stock and 19.000 shares of $100 par. 7 percent cumulative preferred stock. Sun Corporation comploted the following transactions during its first two years of operation. Year 1 January 5 sold 16,050 bhares of the 85 par common stock for 57 per share. Janoary 12 sold 1,00e stares of the 7 nercent preferred stock for sue per share. Apn11 5 5old 21,400 shares of the 43 par conmon stock for ts per share Deceeber 31 Durling the year, earned $302, ge0 in cash revenue and paxd 3243, 50e for cash operating axpenses December ad Declared the cash dividend on the outstanding shares of preferred stock for vear 1. The dividend wili be pald on Tebruary 15 to stockholdecs of record on Janiary 10 , vear 2. Year 2 February 35 paid the cash dividend dectared on Decamber 31 , Vear i Karch 3 Sold 2,850 shares of the \$1ee par preferreid stock for 3120 per share May 5 purctased see shares of the coimen stock as treasury stock at 516 per share. Decenber 31 buring the year, earned $249,600 in cash revenues and paid 3176 , 960 for cash aperating expenses. Decenber is bectared the annual aividend on the preferred stock and a $5.75 per share dividend on the comion stock. Problem 11-26A (Algo) Part a Required a. Organize the trangaction data in accounts under an accounting equation Note- Enter any decreases to account balances with a minus sign. Not all cells require input. Required information Problem 11.26A (Algo) Recording ond reporting stock transactions and cash dlvidends across two accounting cycles LO 11.3, 11.6 [The following information apphes to the questions dispiayed below] Sun Corporation recelved a charter that authorized the issuance of 107.000 shares of $5 par common stock and 19.000 shares of $100 par. 7 percent cumulative preferred stock. Sun Corporation comploted the following transactions during its first two years of operation. Year 1 January 5 sold 16,050 bhares of the 85 par common stock for 57 per share. Janoary 12 sold 1,00e stares of the 7 nercent preferred stock for sue per share. Apn11 5 5old 21,400 shares of the 43 par conmon stock for ts per share Deceeber 31 Durling the year, earned $302, ge0 in cash revenue and paxd 3243, 50e for cash operating axpenses December ad Declared the cash dividend on the outstanding shares of preferred stock for vear 1. The dividend wili be pald on Tebruary 15 to stockholdecs of record on Janiary 10 , vear 2. Year 2 February 35 paid the cash dividend dectared on Decamber 31 , Vear i Karch 3 Sold 2,850 shares of the \$1ee par preferreid stock for 3120 per share May 5 purctased see shares of the coimen stock as treasury stock at 516 per share. Decenber 31 buring the year, earned $249,600 in cash revenues and paid 3176 , 960 for cash aperating expenses. Decenber is bectared the annual aividend on the preferred stock and a $5.75 per share dividend on the comion stock. Problem 11-26A (Algo) Part a Required a. Organize the trangaction data in accounts under an accounting equation Note- Enter any decreases to account balances with a minus sign. Not all cells require input