Use the following to answer questions 6-12 The company has two classes of stock authorized: $50.00...

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Use the following to answer questions 6-12 The company has two classes of stock authorized: $50.00 par preferred and $0.10 par value common. As of the beginning of 20XC, 5,000 shares of preferred stock and 250,000 shares of common stock have been issued. Record the following transactions to complete the Statement of Stockholders' Equity: 1-Mar 1-Apr 1-Jun 30-Jun 1-Aug Issue 1,000 additional shares of preferred stock for $51.00 per share Issue 100,000 additional shares of common stock for $25 per share Declare a cash dividend on both common and preferred stock of $1.00 per share to all stockholders of record on June 15. Pay the cash dividend declared on June 1. Repurchase 10,000 shares of common treasury stock for $30.00 per share Reissue 7,000 shares of treasury stock Effect on Stockholders' Equity 1-Oct 31-Dec purchased on August 1 for $35.00 per share Net income for the year was $750,000 The beginning balances are shown below. Complete the Statement of Stockholders' Equity using the above information: Preferred Stock Common Stock Beginning balance 20XC $250,000 $25,000 Additional Paid-in Capital $3,475,000 Retained Earnings $1,000,000 Treasury Stock $0 Total Stockholders' Equity $4,750,000 Issuance of stock Net income for the year Less: Dividends Purchase of Treasury Sale of Treasury Ending balance 20XC Then answer the following questions: Chapter 10 6. $ 7. $ 8. $ 9. $ Page 10-1 When the shares were issued on March 1, how much did additional paid in capital increase? On June 1st when the dividend was declared, how much did retained earning decrease? On August 1st when the shares were repurchased, how much did stockholders' equity decrease? On August 1st when the shares were repurchased, how much did net income decrease? 10. $ On October 1st when the shares were reissued, how much did additional paid in capital change (if decrease put "-" in front of the number)? 11. $ 12. $ Compute ending retained earnings on December 31st. Compute ending stockholders, equity on December 31st. Use the following to answer questions 6-12 The company has two classes of stock authorized: $50.00 par preferred and $0.10 par value common. As of the beginning of 20XC, 5,000 shares of preferred stock and 250,000 shares of common stock have been issued. Record the following transactions to complete the Statement of Stockholders' Equity: 1-Mar 1-Apr 1-Jun 30-Jun 1-Aug Issue 1,000 additional shares of preferred stock for $51.00 per share Issue 100,000 additional shares of common stock for $25 per share Declare a cash dividend on both common and preferred stock of $1.00 per share to all stockholders of record on June 15. Pay the cash dividend declared on June 1. Repurchase 10,000 shares of common treasury stock for $30.00 per share Reissue 7,000 shares of treasury stock Effect on Stockholders' Equity 1-Oct 31-Dec purchased on August 1 for $35.00 per share Net income for the year was $750,000 The beginning balances are shown below. Complete the Statement of Stockholders' Equity using the above information: Preferred Stock Common Stock Beginning balance 20XC $250,000 $25,000 Additional Paid-in Capital $3,475,000 Retained Earnings $1,000,000 Treasury Stock $0 Total Stockholders' Equity $4,750,000 Issuance of stock Net income for the year Less: Dividends Purchase of Treasury Sale of Treasury Ending balance 20XC Then answer the following questions: Chapter 10 6. $ 7. $ 8. $ 9. $ Page 10-1 When the shares were issued on March 1, how much did additional paid in capital increase? On June 1st when the dividend was declared, how much did retained earning decrease? On August 1st when the shares were repurchased, how much did stockholders' equity decrease? On August 1st when the shares were repurchased, how much did net income decrease? 10. $ On October 1st when the shares were reissued, how much did additional paid in capital change (if decrease put "-" in front of the number)? 11. $ 12. $ Compute ending retained earnings on December 31st. Compute ending stockholders, equity on December 31st.