Required information (The following information applies to the questions displayed below.) Sun Corporation received a charter that authorized the issuance of 119.000 shares of $5 par common stock and 21000 shares of $75 par, 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation: 2018 Jan. 5 Sold 17,850 shares of the $5 par common stock for 57 per share. 12 Sold 2,100 shares of the 5 percent preferred stock for $85 per share. Apr. 5 Sold 23,800 shares of the 55 par common stock for 39 per share. Dec. 31 During the year, earned $301,700 in cash revenue and paid $237,600 for cash operating expenses. 31 Declared the cash dividend on the outstanding shares of preferred stock for 2018. The dividend will be paid on February 15 to stockholders of record on January 10, 2019. 2019 Feb. 15 Paid the cash dividend declared on December 31, 2018. Mar. 3 Sold 3,150 shares of the $75 par preferred stock for $95 per share. May. 5 Purchased 550 shares of the common stock as treasury stock at $10 per share. Dec. 31 During the year, earned $251,800 in cash revenues and paid $171,000 for cash operating expenses. 31 Declared the annual dividend on the preferred stock and a $0.25 per share dividend on the common stock. Sun Corporation Accounting Equation Stockholders' Equity EventAsset Liabilities Cash Dividends Payable Preferred Stock Common Stock Paid in Capital in Excess of Preferred Stock Paid in Capital in Excess of - Common Stock Treasury Stock Retained Earnings Accounts Titles for Retained Earnings 2018 Jan 5 Jan. 12 |Apr.5 Dec.31 Dec. 31 Dec 31 Bal. 1 ol OL + 0 0 0 2019 Feb. 15 Mar 3 May 5 Dec 31 Dec 31 Dec. 31 0 0- Bal 0