[The following information applies to the questions displayed below.) Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,900 shares of common stock for cash at $29 per share. b. Issued 2,900 shares of common stock for cash at $32 per share. 2. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the issuance of 6,900 shares of common stock with a par value $2 for a price of $29 per share. View transaction list Journal entry worksheet ok mt Record the issuance of 2,900 shares of common stock with a par value $2 for a price of $32 per share Note: Enter debits before credits Transaction b General Journal Debit Credit 3. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet. At year-end, the accounts reflected a profit of $100. INCENTIVE CORPORATION Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Total Contributed Capital Total Stockholders' Equity 4. Incentive Corporation has $39,000 in the company's bank account. At year-end, the accounts reflected a profit of $100. What is the maximum amount of cash dividends the company can declare and distribute? Maximum amount of cash dividends