Surfing Dewd Corporation is authorized to issue both preferred and common stock. Surfing Dewd's preferred stock is $105 par, 6% preferred stock. During the first month of operations, the company engaged in the following transactions related to its stock. Show each of the following transactions in the accounting equation: March 1 Issued 16,000 shares of $0.50 par value common stock for cash at $5.00 per share Issued 1,500 shares of preferred stock at par March 11 Purchased 3,000 shares of common stock to be held in the treasury for $7 per share March 16 March 18 Issued 32,000 shares $0.50 par value common stock for cash at $10 per share March 20 Sold 2,900 shares of the treasury stock purchased on the 16th for $12 per share March 31 Declared a $10,000 dividend Show how each transaction would affect the accounting equation. Some of the account names will be abbreviated. March 1: Issued 16,000 shares of $0.50 par value common stock for cash at $5.00 per share (Use parentheses or a minus sign when entering component decreases or contra account increases. Use only the necessary input lines.) Shareholders' Equity Assets Liabilities Contributed Capital Retained Earnings $ $ $ $ Account Account Account ccount March 11: Issued 1,500 shares of preferred stock at par (Use parentheses or a minus sign when entering component decreases or contra account increases. Use only the necessary input lines.) Shareholders' Equity Contributed Capital Retained Earnings Liabilities Assets + $ $ $ $ Account Account ccount Account March 16: Purchased 3,000 shares of common stock to be held in the treasury for $7 per share (Use parentheses or a minus sign when entering component decreases or contra account increases. Use only the necessary input lines.) Shareholders' Equity Contributed Capital Retained Earnings Assets Liabilities $ $ $ Account Account ccount Account