Stock transaction for corporate expansion Pulsar Optics produces medical lasers for use in hospitals. The accounts and their balances appear in the ledger of Pulsar Optics on April 30 of the current year as follows: Preferred 2% Stock, $25 par (500,000 shares authorized, 140,000 shares issued) Pald-In Capital In Excess of Par-Preferred Stock Common Stock, $100 par (1,000,000 shares authorized, 210,000 shares issued) Pald-In Capital in Excess of Par-Common Stock Retained Earnings $3,500,000 700,000 21,000,000 1,680,000 42,000,000 At the annual stockholders' meeting on August 5, the board of directors presented a plan for modernizing and expanding plant operations at a cost of approximately $13,650,000. The plan provided (a) that the corporation borrow $3,300,000 (b) that $65,000 shares of the unissued preferred stock be issued through an underwriter, and (c) that a building, valued at 3,400,000 and the land on which it is located, valued at 5,000,000 be acquired in accordance with preliminary negotiations by the Issuance of 80,000. shares of common stock. The plan was approved by the stockholders and accomplished by the following transactions: Oct. 9. Borrowed $3,300,000 from St. Peter City Bank, giving a 4% mortgage note. Oct. 17. Issued 65,000 shares of preferred stock, receiving $30 per share in cash. Oct. 28. Issued 80,000 shares of common stock in exchange for land and a building, according to the plan. Required:

Stock transaction for corporate expansion Puisar Optics produces medical lasers for use in hospitals. The accounts and their balances appear in the ledger of Pulsar Optics on Aprit 30 of the current year as follows: Ae the annual stocktwolders' meeting on August 5, the board of directers presented a plan for modernizing and expanding plant operations at a cost of approximately 313,650,000. The plan provided (a) that the corporation borrow $3,300,000 (b) that $65,000 shares of the unissued preferred stock be issued through an underwriter. and (c) that a buicding, valued at 3,400,000 and the land on which it is locoted, valued at 5,000,000 be acquired in accordance with preliminary negotations by the wwance of 80,000 . sharen of common stock. Thy plon was opproved by the stockholders and accompished by the following transactions: Qa: 9. Borrowed 53,300,000 from St. Peter city Bank, olving a 4 w mortosge note. oGL 17. Issued 65,000 shares of preferred stock, receiving 130 per thare in cash, Oct. 28. twwed B0,000 vhares of common stock in exchange for land and a buildng, according to the plan. Stock transaction for corporate expansion Puisar Optics produces medical lasers for use in hospitals. The accounts and their balances appear in the ledger of Pulsar Optics on Aprit 30 of the current year as follows: Ae the annual stocktwolders' meeting on August 5, the board of directers presented a plan for modernizing and expanding plant operations at a cost of approximately 313,650,000. The plan provided (a) that the corporation borrow $3,300,000 (b) that $65,000 shares of the unissued preferred stock be issued through an underwriter. and (c) that a buicding, valued at 3,400,000 and the land on which it is locoted, valued at 5,000,000 be acquired in accordance with preliminary negotations by the wwance of 80,000 . sharen of common stock. Thy plon was opproved by the stockholders and accompished by the following transactions: Qa: 9. Borrowed 53,300,000 from St. Peter city Bank, olving a 4 w mortosge note. oGL 17. Issued 65,000 shares of preferred stock, receiving 130 per thare in cash, Oct. 28. twwed B0,000 vhares of common stock in exchange for land and a buildng, according to the plan