Sandhill Corporation was organized on January 1, 2027. It is authorized to issue 23,500 shares of 6%,$53 par value preferred stock and 459,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 69,500 shares of common stock for cash at $4 per share. Mar. 1 Issued 11,450 shares of preferred stock for cash at $54 per share. May 1 Issued 114,500 shares of common stock for cash at $7 per share. Sept. 1 Issued 4,900 shares of common stock for cash at $9 per share. Nov. 1 Issued 2,900 shares of preferred stock for cash at $54 per share. (a) Prepare a tabular summary to record the transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)