Stockholders Equity: Transactions and Baiance Sheet Presentation Baker Comporation was organtzed on July 1. with an authoritation of 50,000 shares of 55 no-par value preferred stock (\$5 is the annual dividend) and 100,000 shares of 510 per valae comition itock: During luly, the following transactons atfecting stockholders equitv occurred: Pequered a. Prepare journsl entries to record the foresoing transactions: a. Prepare journal entries to record the foregoing transactinne b. Prepare the stockhoiders equity section of the halanco chan. ........ . ? net income for July is $52,000. Stockholders Equity: Transactions and Baiance Sheet Presentation Baker Comporation was organtzed on July 1. with an authoritation of 50,000 shares of 55 no-par value preferred stock (\$5 is the annual dividend) and 100,000 shares of 510 per valae comition itock: During luly, the following transactons atfecting stockholders equitv occurred: Pequered a. Prepare journsl entries to record the foresoing transactions: a. Prepare journal entries to record the foregoing transactinne b. Prepare the stockhoiders equity section of the halanco chan. ........ . ? net income for July is $52,000