Required information (The following information applies to the questions displayed below) Incentive Corporation was authorized to issue 12.000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,400 shares of common stock for cash at $24 per share. b. Issued 2,400 shares of common stock for cash at $27 per share. implete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any creases to account balances with a minus sign.) Assets Liabilities Stockholders Equ 2. Record the issuance of 6,400 shares of common stock with a par value $2 for a price of $24 per share. Note: Enter debits before credits Transaction General Journal Debit Credit Record onto Caranto View neneral Tournal Record the issuance of 2,400 shares of common stock with a par value $2 for a price of $27 per share. Note: Enter debits before credits Transaction General Journal Debit Credit b antar Clear entry View general lournal Required information [The following information applies to the questions displayed below.) Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,400 shares of common stock for cash at $24 per share. b. Issued 2.400 shares of common stock for cash at $27 per share. 4. Incentive Corporation has $34,000 in the company's bank account. At year-end, the accounts reflected a profit of $200. What is the maximum amount of cash dividends the company can declare and distribute? Maximum amount of cash dividends Required information (The following information applies to the questions displayed below.) Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,400 shares of common stock for cash at $24 per share. b. Issued 2.400 shares of common stock for cash at $27 per share. Required: 1. Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Stoc a b b View transaction list Journal entry worksheet 1 2 Record the issuance of 6,400 shares of common stock with a par value $2 for a price of $24 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Journal entry worksheet