Top Tech, Inc. Stockholders' Equity Section at the end of last year was as follows: Paid In capital: Preferred Stock, 100,000 Shs. Authorized, 20,000 Outstanding, $10 Par, 3% dividend rate 200,000 Common Stock, 50,000 Shs. Issued and Outstanding, No Par 1,350,000 Total Paid in Capital 1,550,000 Retained Earnings 275,200 Total Stockholders' Equity 1,825,200 Req. #1, give general journal entries for the following transactions that took place this year: 1 Sold 5,000 shares of Pfd. Stock for $13/Sh. 2 Bought back 2,000 shs of the common stock that were outstanding. Paid $18/Share 3 Sold 1,500 of the shares bought back in prior transaction. Received $15/Share 4 Give 3rd closing entry with the corp.losing 23,000 for the year. Req#2 prepare Top Tech, Inc. Stockholders' Equity Section at the end of this year. Req. #2 prepare Top Tech, Inc. Stockholders' Equity Section at the end of this year Req#3 calculate common stock book value per share at the end of last year and at the end of this year Chpt. 13 PP-2: Prepare a classified Balance Sheet, dated 12-31-18, for these 3 situations Situation1 12-31-18 Assets Cas Accounts Rec... Inventory 83,000 274,000 189,000 601,000 12-31-18 Liabilities Accounts Pay. 55,000 Short-Term Notes Payable.. 95,200 Long-Term Notes Payable 271,000 12-31-18 Equity: Business is named Happy Productions and is owned solely by Harry Happy. (You wll have to determine the equity amount Situation 2 Business is named Aztec Partners and is owned by Judy Smith and Al Topp Assets and Liabilities are the same as situation 1 Equity- Capital as of 1-1-18: Judy 325,000 Al, 184,000 Capital Contributed in 2018: Judy. Al Drawings,2018: Judy 53,500 Al 83,200 Share of Profits, every year: Judy.. 0.8 Capital as of 1-1-18: 325,000 Al, 184,000 Capital Contributed in 2018: Judy Al Drawings,2018 Judy. 53,500 Al 83,200 Share of Profits,every year: Judy Al 0.8 0.2 Situation 3 Business is a corporation named Aztec, Inc. Assets and Liabilities are the same as situation 1 Equity- Paid in Capital(Common Stock) as of 12-31-18 is 384,000