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this question is a 3 part question yhe information for the 3 are posted in the statement. The following information applies to the questions displayed
this question is a 3 part question yhe information for the 3 are posted in the statement.
The following information applies to the questions displayed below) Sun Corporation received a charter that authorized the issuance of 99,000 shares of $7 par common stock and 19.000 shares of $100 par, 4 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation Year 1 Jan. 5 sold 14,85e shares of the $7 par common stock for $9 per share. 12 Sold 1,900 shares of the 4 percent preferred stock for $119 per share. Apr. 5 Sold 19,8ee shares of the $7 par common stock for $11 per share. Dec. 31 During the year, earned $382,800 in cash revenue and paid $238,389 for cash operating expenses. 31 Declared the cash dividend on the outstanding shares of preferred stock for Year 1. The dividend will be paid on February 15 to stockholders of record on January 19, Year 2. Year 2 Feb. 15 Paid the cash dividend declared on December 31, Year 1. Mar. 3 Sold 2,850 shares of the $180 par preferred stock for $120 per share. May. 5 Purchased 400 shares of the common stock as treasury stock at $14 per share, Dec.31 During the year, earned $250,700 in caph revenues and paid $171, see for cash operating expenses. 31 Declared the annual dividend on the preferred stock and a $0.25 per share dividend on the common stock. Evont No. Cash Dividends Payable Preferred Stock Common Stock Paid in Capitalin Excesso Bar Protered Stock Paid in Capital Excess of Par Common Stock Treasury Stock Retail Earni Year 1 Jan 5 Jan. 12 Apr 5 Dec 31 Dec 31 Dec 31 Bal +++++ = 0 = 0 0 . 0 + Year 2 Feb 15 Mar 3 May 5 Dec 31 Dec 31 . HULUM As of December 31, Year 1 Assets of 3 Total assets Liabilities GA $ 0 Total liabilities Stockholders' equity 0 ES Total paid-in capital 0 Required information As of December 31, Year 2 Assets Total assets 0 Liabilities 0 Total liabilities Stockholders' equity + 0 Total paid-in capital Schedule of Number of Shares of Common Stock Shares Shares Issued Outstanding Year 1 Totals 0 0 Year 2 Totals 0 0 c-2. Are there any differences between issued and outstanding common shares for Year 1 and Year 2? Issued common shares Outstanding common shares Step by Step Solution
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