Stockholders' Equity: Transactions and Balance Sheet Presentation Beaker Corporation was organized on July 1, with an authorization of 50,000 shares of $4 no par value preferred stock (54 is the annual dividend) and 100.000 shares of $10 par value common stock. During July, the following transactions affecting stockholders' equity occurred: July 1 Issued 31,000 shares of common stock at $17 cash per share 12 issued 3.500 shares of common stock in exchange for equipment with a fair market value of $63.000 15 Issued 5,000 shares of preferred stock for cash at super share Required Credit 31.000 a. Prepare journal entries to record the foregoing transactions. General Journal Description Debit Jul 01 Cash 5 527,000 $ Common Stock Paid-in-Capital in Excess of Par Value. Common Stock Issued shares of common stock Jul 12 Equipment Common Stock Paid-in-capital in Excess of Par Value. Common Stock Issued common stock for ecumene Jul. 15 Cash Preferred Stock Issued shares of preferred stock. b. Prepare the stockholders' equity section of the balance sheet at July 31. The net income for July is $38,000. Stockholders' Equity Paid in Capital Additional Paid-in-Capital Paid-in-Capital in Excess of Par value - Common Stock Please answer all parts of the