Use the following to answer questions 6-12 J&TR, Inc., has two classes of stock authorized: $100.00 par preferred and $0.10 par value common. As of the beginning of 20XC, 10,000 shares of preferred stock and 800,000 shares of common stock have been issued. Record the following transactions to complete the Statement of Stockholders' Equity: $102.50 per share Issue 5,000 additional shares of preferred stock for 1-Mar 1-Apr Issue 100,000 additional shares of common stock for $25.00 per share Declare a cash dividend on both common and preferred stock of $0.75 per share to all stockholders of record on June 15. Pay the cash dividend declared on June 1. 1-Jun 30-Jun Repurchase (buy) 50,000 shares of common 1-Aug treasury stock for $26.00 per share 1-Oct Resell 40,000 shares of treasury stock purchased on August 1 for $26.50 per share 31-Dec Net income for the year was $750,000 Effect on Stockholders' Equity The beginning balances are shown below. Complete the Statement of Stockholders' Equity using the above information: Additional Total Preferred Stock Beginning balance 20XC $1,000,000 Common Stock $80,000 Paid-in Capital $7,600,000 Retained Earnings Treasury Stock Stockholders' Equity $1,200,000 SO $9,880,000 Issuance of stock Net income for the year Less: Dividends Purchase Treasury stock Resell Treasury stock Ending balance 20XC