$(1)$

Required information

Problem $11-26$A $($Algo$)$ Recording and reporting stock transactions and cash dividends across two accounting cycles LO $11-3,11-6$

$[$The following information applies to the questions displayed below.$]$

Sun Corporation received a charter that authorized the issuance of $112,000$ shares of $$8$ par common stock and $20,000$ shares of $$100$ par, $6$ percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation.

Year $1$

January $5$ Sold $16,800$ shares of the $$8$ par common stock for $$10$ per share.

January $12$ Sold $2,000$ shares of the $6$ percent preferred stock for $$110$ per share.

April $5$ Sold $22,400$ shares of the $$8$ par common stock for $$12$ per share.

December $31$ During the year, earned $$301,800$ in cash revenue and paid $$243,500$ for cash operating expenses.

December $31$ 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 $10,$ Year $2.$

Year $2$

February $15$ Paid the cash dividend declared on December $31,$ Year $1.$

March $3$ Sold $3,000$ shares of the $$100$ par preferred stock for $$120$ per share.

May $5$ Purchased $500$ shares of the common stock as treasury stock at $$16$ per share.

December $31$ During the year, earned $$246,900$ in cash revenues and paid $$179,800$ for cash operating expenses.

December $31$ Declared the annual dividend on the preferred stock and a $$0\mathrm{.}50$ per share dividend on the common stock.

Problem $11-26$A $($Algo$)$ Part a

Required

a$.$ Organize the transaction data in accounts under an accounting equation.

Note: Enter any decreases to account balances with a minus sign. Not all cells require input.