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Entries for Selected Corporate Transactions Nav Go Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises' stockholders' equity accounts, with balances on January 1, 2011, are as follows: Common Stock, ss stated value (900,000 shares authorised, 620,000 shares issued) $3,100,000 Paid In Capital in Excess of Stated Value-Common Stock 1,240,000 Retained Earnings 4,875,000 Treasury Stock (48,000 shares, at cost) 268,000 The following selected transactions occurred during the years Jan. 15. Paid cash dividends of $0.06 per share on the common stock. The dividend had been property recorded when declared on December 1 of the preceding fiscal year for $34,320, Mar. 15. Sold all of the treasury stock for $6.75 per share. Apr. 13. Issued 200,000 shares of common stock for $8 per share June 14. Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $7.50 per share July 16. Issued stock for stock dividend declared on June 14, Oct. 30. Purchased 50,000 shares of treasury stock for 56 per share. Dec. 30. Declared an 50.08 per share dividend on common stock 31. Closed the two dividends accounts to retained Earnings. Required: 1. The January 1 balances in accounts for the stockholders' equity accounts have been listed below. Taccounts for the following accounts have also been created: Pad-in Capital from Sale of Treasury stock, Stock Dividends Distributable; Stock Dividends: Cash Dividends . The January 1 balances in Taccounts for the stockholders equity accounts have been listed below. I accomnts for the following accounts have also been created: Ped-In Capital from Sale of Treasury Stock Stock Dividends Distributable; Stock Dividenda; Cash Dividends. Common Stock 3,100,000 Jan. 1 Bal Apr. 12 . July 16 Dec. 31 Bal Paid In Capital in Excess of Stated Valve Common Stock Jan, L Bal 1,240,000 Apr1 June 14 Dec 31 Bal Retained Earnings Dec.31 4,875,000 lan 1 Bal Dec 31 Dec. 31 Bal Retained Earnings Dec. 31 Jan. 1 Bal. 4,875,000 Dec. 31 Dec. 31 Bal. Treasury Stock Jan. 1 Bal. 288,000 Mar. 15 Oct. 30 Dec. 31 Bal. Paid-In Capital from Sale of Treasury Stock Mar. 15 Stock Dividends Distributable July 16 June 14 Stock Dividends Stock Dividends June 14 Dec. 31 Cash Dividends Dec. 31 Dec 30 2. Journalize the entries to record the transactions, and post to the eight selected accounts. If an amount box does not require an entry, leave it blank Jan. 15. Poid cash dividends of $0.06 per share on the common stock. The dividend had been properly recorded when decored one of the preceding Alcal year for $34,320 Date Debit Account Cash Dividends Payable Credit Jan. 15 Cash Mar. 15. Sold all of the treasury stock for $6.75 per share Date Account Debit Credit Mar. 15 Cash Treasury Stock Paid In Capital from Sale of Treasury Stock Mar. 15. Sold all of the treasury stock for $6.75 per share. Date Account Debit Credit Mar 15 Cash Treasury Stock Paid In Capital from Sale of Treasury Stock Apr. 13. Issued 200,000 shares of common stock for $8 per share. Date Account Debit Apr. 13 Cash Common Stock Paid-In Capital in Excess of Stated Value: Common Stock June 14. Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $7.50 per share. Date Account Debit Credit June 14 Stock Dividends Stock Dividends Distributable Paid-in Capital in Excess of Stated Value Common Stock July 16. Issued stock for stock dividend declared on June 14. Date Account Debit Credit July 16 Stock Dividends Distributable Common Stock Oct. 30. Purchased 50,000 shares of treasury stock for $6 per share. Date Account Debit Credit Oct. 30 Treasury Stock Cash Dec. 30. Declared an $0.08-per-share dividend on common stock Date Account Debit Credit Dec. 30 Cash Dividends Cash Dividends Payable Dec. 31. Closed the two dividends accounts to Retained Earnings. Dec. 31. Closed the two dividends accounts to retained Earnings Date Account Debit Credit Dec 31 Retained Earnings Stock Dividends Cash Dividends 3. Prepare a statement of stockholders' equity for the year ended December 31, 20Y1. Assume that net income was 5775,000 the veat ended December 31, 2011. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Un amount box does not require the back or entero tovo Enterprises Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2011 Paid In Capital in Paid in Excess of Capital from Sale of Stated Value Treasury Stock Retained Earnings Treasury Stock Total Common Stock Balonces, January 1 Issued Common Stock Net Income Cash Dividends Previous 3. Prepare a statement of stockholders' equity for the year ended December 31, 2011. Assume that net income was $775,000 for the year ended December 31, 2011. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank or enter" Nav.Go Enterprises Inc Statement of Stockholders' Equity For the Year Ended December 31, 2011 Paid In Capital in Excess of Stated Value Paid In Capital from Sale of Treasury Stock Retained Treasury Stock Total Earning Common Stock Balanceanuary 1 Issued Common Stock Net Income Cash Dividends Stock Dividends Sale of Treasury Stock Net Loss Balances, December 31 4. Prepare the 'Stockholders' Equity" section of the December 31, 2011, balance sheet. For those boxes in which you must enter subtracted or negative numbers in a mus Previous 4. Prepare the stockholders' Equity" section of the December 31, 2011, balance sheet. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Nav.Go Enterprises Inc Balance Sheet December 11, 2011 Stockholders' Equity Paid-In Capital Common Stock SS Stated Value (900,000 Shares Authorized Shares issued Excess of Issue Price Over Stated Value From Sale of Treasury Stock Total Paldin Capital Retained Eamings Total Treasury toro Sant Cost Total stockholders' Equity