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the first 2 photos are info and the third photo is what needs to be answered Because Natalie has been so successful with Cookie Creations

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Because Natalie has been so successful with Cookie Creations and Curtis has been just as successful with his coffee shop, they both conclude that they could benefit from each other's business expertise. Curtis and Natalie next evaluate the different types of business organization, and beciuse of the advantage of limited personal liability, decide to form a new corporation. Curtis has operated his coffee shop for 2 years. He buys coffee, muffins, and cookies from a local supplier. Natalie's business consists of giving cookie-making classes and selling fine European mixers. The plan is for Natalie to use the premises Curtis currently rents as a location for her cookie-making classes and demonstrations of the mixers that she sells. Natalie will also hire, train, and supervise staff hired to bake cookies and muffins sold in the coffee shop. By offering her classes on the premises, Natalie will save on travel, and the calfee shop will provide one central location for selling the mixers, Combining forces will also allow Natalie and Curtis to pool their resources and buy a fow more assets to run their new business venture. The current market values of the assets of both businesses are as follows. Curtis and Natalie meet with a Lawyer and form their corporation, called Cookie \& Coffee Creations Inc, on November 1, 2021, The new corporation is authorized to issue 50,000 shares of $1 par common stock and 10,000 shares of no par, $6 cumulative preferred stock. The assets held by each business will be transferred into the corporation at current market value of $1 per share. Curtis will receive 10,550 common shares, and Natalie will receive 14,630 common shares in the corporation. Prepare the journal entries required on November 1,2021, the date when Natalie and Curtis transfer the assets of their respective businesses into Cookic \& Coffee Creations Inc. (Credit account tities are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts.)

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