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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

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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 6.100 shares of common stock for cash at $21 per share. b. Issued 2,100 shares of common stock for cash at $24 per share. Prepare the stockholders equity section as it should be reported on the year-end balance sheet. At year-end, the accounts rflected a profit of $200. 3. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet. At year-end, the accounts reflected a profit of $200

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