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(The following information applies to the questions displayed below.] common stock, each with a $1 par value. During its first Incentive Corporation was authorized to

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(The following information applies to the questions displayed below.] common stock, each with a $1 par value. During its first Incentive Corporation was authorized to issue 12,000 shares year, the following selected transactions were completed: a. Issued 5,600 shares of common stock for cash at $21 per share. b. Issued 1,600 shares of common stock for cash at $24 per share. equired: . Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.) Assets Liabilities + Stockholders' Equity 3. + 3. + = 3. + 2

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