The following transactions are for Hefron Inc. in 2017: Required: 1. Identify and analyze the effect of each transaction. a. On March 1, the corporation was organized and received authorization to issue 5,000 shares of 8%, $100 par value preferred stock and 2,000,000 shares of $10 par value common stock. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. b. On March 10, Hefron issued 3,000 shares of common stock at $35 per share. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. c. On March 18 , Hefron issued 100 shares of preferred stock at $180 per share. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. d. On April 12, Hefron issued another 10,000 shares of common stock at $45 per share. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. 2. Prepare the Stockholders' Equity section of the balance sheet as of December 31, 2017. 2. Prepare the Stockholders' Equity section of the balance sheet as of December 31,2017. 3. The balance sheet at year-end reflects stock at: The following transactions are for Hefron Inc. in 2017: Required: 1. Identify and analyze the effect of each transaction. a. On March 1, the corporation was organized and received authorization to issue 5,000 shares of 8%, $100 par value preferred stock and 2,000,000 shares of $10 par value common stock. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. b. On March 10, Hefron issued 3,000 shares of common stock at $35 per share. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. c. On March 18 , Hefron issued 100 shares of preferred stock at $180 per share. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. d. On April 12, Hefron issued another 10,000 shares of common stock at $45 per share. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. 2. Prepare the Stockholders' Equity section of the balance sheet as of December 31, 2017. 2. Prepare the Stockholders' Equity section of the balance sheet as of December 31,2017. 3. The balance sheet at year-end reflects stock at