Sarasota Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.

Feb. 1		Issued 25,200 shares for cash at $51 per share.
July 1		Issued 37,800 shares for cash at $56 per share.

(a) Prepare a tabular summary to record the transactions. Include margin explanations for the changes in revenues and expenses. (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.)

		Assets	=	Liabilities	+	Stockholders Equity
						Paid-in-Capital							+	Retained Earnings
		Cash	=		+	Common Stock	+	PIC in Excess of Par Value Com.	+	Pref. Stock	+	PIC in Excess of Par Value Pref.	+	Revenue	-	Expense	-	Dividend
Feb. 1		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		select an option DividendsCommon stockPaid-in-capital in excess of preferred stockPreferred stockInterest expensePaid-in-capital in excess of common stock
July 1		enter a dollar amount		enter a dollar amount