Required informetion The following information apples to the questions displayed below] incentive Corporation was authorized to issue 12000 shares of common stock, each with a \$1 par value. During its first yeat, the following selected transactions were completed a. Issued 5,600 shares of common stock for cash at $21 per share b. Is sued 1,600 shares of common stock for cash at $24 per share Required: 1. Complete the table below, indicating the account, amount, and direction of the elfect for the above transactions (Enter any decreases to account balences with o minus sign.) 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 $1 par value During its first year, the following selected transactions were completed: a. Issued 5,600 shares of common stock for cash at $21 per share. b Issued 1600 shares of common stock for cash at $24 per share. Prepare the journal entry required for each of these transactions (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 2 Record the issuance of 5,600 shares of common stock with a par value $1 for a price of $21 per share. Notel Enter debis before credits. 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 $1 par value. During its first year, the following selected transactions were completed: a. Issued 5.600 shares of common stock for cash at $21 per share. b. Issued 1,600 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 reflected a profit of $300