This individual assignment has TWO parts. Question #1 create the journal entries for the January 1st through December 31st transactions. Question #2 fill in the statement of stockholders' equity chart with the May 18th through August 10th transactions. Plus be sure to add the net income to the chart. You might want to do this assignment in Excel or a table format in Word. Please let me know if you have any questions. ACC 220 Chapter 10 Individual Assignment The two problems below are separate. Do not try to use information from problem 1 to complete problem 2. 1. Southeast Fashion Co. has the following transactions during the year related to stockholders' equity. January 1- per share March 15- for $22 per share. December 1- December 15- December 31- Issues 3,000 shares of no-par common stock for $20 Issues 800 shares of $20 par value preferred stock Declares a cash dividend of $1 per share to all stockholders of record (both common and preferred) on December 15. Date of record. Pays the cash dividend declared on December 1. Record each of these transactions as journal entries. 2. China Coffee Co. has the following beginning balances in its stockholders' equity accounts on January 1, 2017: Common stock, $100,000; paid-in capital, $4,100,000; and retained earnings, $3,000,000. Net income for the year ended December 31, 2017, is $800,000. China Coffee Co. has the following transactions affecting stockholders' equity in 2017. May 18 May 31 July 1 July 31 August 10 Issues 25,000 additional shares of $1 par value common stock for $40 per share. Repurchases 5,000 shares of treasury stock for $45 per share. Declares a cash dividend of $1 per share to all stockholders of record on July 15. Hint: Dividends are not paid on treasury stock. Pays the cash dividend declared on July 1. Reissues 2,500 shares of treasury stock purchased on May 31 for $48 per share. Taking into consideration all the entries described above, prepare the statement of stockholders' equity for the year ended December 31, 2017, using the format provided. China Coffee Company Statement of Stockholders' Equity For the Year Ended December 31, 2017 Common Stock Additional Paid-in- Retained Capital Earnings Balance, January 1 Issued common stock Repurchased treasury stock Cash dividends $ 100,000 $4,100,000 $3,000,000 $ Sold treasury stock Net Income Balance, December 31 Total Treasury Stockholders' Stock Equity $ 7,200,000