Quran 48 Not yet answered Marked out of 15.00 P Flag cuestion Stockholders' Equity: Information and Entries from Comparative Data Comparative stockholders' equity sections from two successive years of balance sheets from Kirkwood, Inc., are as follows: Dec 31, 2018 Dec 31, 2017 Paid in Capital 10 percent preferred stock, $20 par value, authorized 50.000 shares: issued and outstanding 2017: 15,000 shares: 2018 25.0 shares $500,000 $ $ $400,000 Common stock, no par value, $10 stated value authorized 120 000 shares issued, 2017: 44,000 shares: 2018: 65,000 shares 600,000 490,000 Addicional Pain in Capital In excess of par value-Preferred stock 225,000 160.000 In excess of water valueComman stock 540,000 From treasury stoc 25,000 Hetained earrings 350,000 335.000 2.275.000 1711,000 Less: Treasury stock 10,000 shares commun at cust 135.000 Total Stockholders' Equity 2,275,000 1.575,00 No dividends were declared or paid during 2018 Required Prepare the journal entries for the transactions affecting stockholders' equity that occurred during 2018. Do not prepare the journal entry for closing net income to retained eamings. Assume that any share transactions were for cash. General Journal Rel Description Debit Credit . 1 5 Faid in Capital in Excess of Par Value Preferred Stack Issued shares of preferred stock 2 Common Stock Issued comman stark 3 3 Treasury Stact Coton Sold treasury stuck