signment Required information [The following information applies to the questions displayed below] Sun Corporation received a charter that authorized the issuance of 85,000 shares of $4 par common stock and 18,000 shares of $100 par, 7 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation Year 1 January 5 January 12 April 3 December 31 December 31 Sold 12,750 shares of the 14 par common stock for $5 per share. Sold 1,800 shares of the 1 percent preferred stock for $110 per share. Sold 17,000 shares of the 14 par common stock for 18 per share. During the year, earned $315,000 in cash revenue and paid $242,200 for cash operating . Declared the cash dividend on the outstanding shares of preferred stock for Year 1. The dividend will be paid on February 15 to stockholders of record on January 10, Tear 2. Year 2 February 15 March 3 May 5 December 31 December 31 Paid the cash dividend declared on December 31, Year 1. Sold 2,700 shares of the $100 par preferred stock for $120 per share. Purchased 500 shares of the common stock as treasury stock at $8 per share. During the year, earned $248,200 in cash revenues and paid $172,200 for cash operating . Declared the annual dividend on the preferred stock and a 30.25 per share dividend on the common stock. Required a. Organize the transaction data in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. Not all cells require input. SUN CORPORATION Accounting Equation Assets Event Number Cash Liabilities Dividends Payable Stockholders' Equity Account Titles for Preferred Stock Common Stock Paid-in Capital in Excess of Par- Preferred Stock Paid-in Capital in Excess of Par- Common Stack Treasury Stock Retained Earnings Retained Earnings Year 1 January 5 January 12 . . 4 April 5 + . December 31 December 31 December 311 Balance Year 2 February 15 March 3 May 5 December 31 December 31 December 31 Balance 0 . 0- . + 0+ . . . + . 0- 0