TB EX Qu. 10-165 Oregon Outfitters issues... Oregon Outfitters issues 1,600 shares of $1 par value common stock at $20 per share. Later in the year, the company decides to purchase 260 shares at a cost of $21 per share. (1) Record the original issue of the 1600 shares, (2) Record the purchase of 260 shares, and (3) Record the entry if Oregon Outfitters resells the 260 shares of treasury stock at $25 per share. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transagion list x 1 Record the original issue of the 1,600 shares. > 2 Record the purchase of 260 shares. 3 Record the entry if Oregon Outfitters resells the 260 shares of treasury stock at $25 per share. Credit Note : Journal entry has been entered Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $18 per share. February 6 Issues 1,300 shares of 74 preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $23 per share. December 15 Resells 6,000 shares of treasury stock at $28 per share. In its first year of operations, Finishing Touches has net income of $143,000 and pays dividends at the end of the year of $94,000 ($1 per share) on all common shares outstanding and $910 on all preferred shores outstanding, Required: Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) FINISHING TOUCHES Balance Sheet (Stockholders' Equity Section) December 31, 2021 Stockholders' equity: Preferred stock $ 13,000 100,000 Total paid in capital 113,000 Total stockholders' equity $ 113,000