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This is a question from accounting 202 of corporation. Please show all the work. Thank you for your help! The following is the Shareholders Equity


This is a question from accounting 202 of corporation. Please show all the work. Thank you for your help!

image text in transcribed The following is the Shareholders Equity section of the Billy BOB Corporation atDecember 31 , 2017 :1Preferred Stock , 10% annual dividend , $40 par , 100 , 000shares authorized , 7 , 000 shares issued & outstanding ......... .280 , 000Common Stock , $5 par , 750, 000 shares authorized ,1 12, 000 issued & outstanding ......560, 000Paid - In Capital in excess of par on preferred .70 , 000Paid - In Capital in excess of par on common .....210 , 000Retained Earnings ..........."1 , 280 , 000January 20 , 2018Billy BOB Corp issued 38, 000 shares of common stockfor $ 456, 000 cash .February 5 , 2018The price of common stock has increased 25 % since theJanuary 20 , 2015 sale . Billy BOB Corp . declared a 10% commonstock dividend to shareholders of record February 10th , payableFebruary 18 th .February 28 , 2018Billy BOB Corp buys back 13 , 200 of its own common shares at anaverage price of $18 cash per share .March 4 , 2018Billy BOB Corp . declared a cash dividend on common stock of25 cents per share to shareholders of record March 10th , payableMarch 28 th . In addition , preferred dividends are declared and paidfor the quarter .Required :1 .Journalize the above transactions omitting explanations .2 .Prepare a Shareholders Equity section of the Billy BOB Corporation at March 31 ,2018 , assuming the net income for January , February , and March is $82, 000 .

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