: SET A P11-1A Tidal Corporation was organized on January 1, 2017. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed ctions, in capital during the first year Jan. 10 Mar. 1 May 1 Sept. 1 Nov. 1 Instructions Issued 70,000 shares of common stock for cash at $4 per share. Issued 12,000 shares of preferred stock for cash at $53 per share Issued 120,000 shares of common stock for cash at $6 per share. Issued 5,000 shares of common stock for cash at $5 per share Issued 3,000 shares of preferred stock for cash at $56 per share. (a) Journalize the transactions. (b) Post to the stockholders' equity accounts. (Use T-accounts.) ty section at December 31, ,829,000 2017