Requirement 2. Prepare a statement of stockholders' equity for

Central Wireless, Inc.

for the month ended

October

31,

2025.

\begin{tabular}{|c|c|c|c|} \hline Date & Accounts and Explanation & Debit & Credit \\ \hline Oct. 9 & CashCommonStock$4ParValuePaid-InCapitalinExcessofPar-CommonIssuedcommonstockforcash. & 90,000 & 72,00018,000 \\ \hline Date & Accounts and Explanation & Debit & Credit \\ \hline Oct. 10 & CashDividendsDividendsPayable-PreferredDividendsPayable-CommonDeclaredcashdividend. & 17,000 & 2,24014,760 \\ \hline \end{tabular} Central Wireless, Inc. needed additional capital to expand, so the business incorporated. The charter from the state of New Mexico authorizes Central Wireless, Inc. to issue 130,000 shares of 8%,$70 par value cumulative preferred stock and 210,000 shares of $4 par value common stock. During the first month, Central Wireless, Inc. completed the following transactions: Assume Central Wireless, Inc.'s net income for the month was $95,000. Journal Entries \begin{tabular}{|c|c|c|c|} \hline Date & Accounts and Explanation & Debit & Credit \\ \hline \multirow[t]{4}{*}{ Oct. 25} & Dividends Payable_-Preferred & 2,240 & \multirow{4}{*}{17,000} \\ \hline & Dividends Payable-Common & 14,760 & \\ \hline & Cash & & \\ \hline & Paid cash dividend. & & \\ \hline \end{tabular}