2 chp 18 excel

PLEASE USE EXCEL FORMULA

During its second year of operations, Panzarella Corporation entered into several transactions relating to shareholders' equity. The articles of incorporation authorized the issue of 7,000,000 common shares, $2.50 par per share, and 900,000 preferred shares, $30.00 par per share. Its balance sheet at December 31 of the nrinr voser follnu/c \begin{tabular}{|l|l|r|} \hline \begin{tabular}{l} Articles of \\ Incorporation \end{tabular} & Common shares authorized & 7,000,000 \\ & Par value per common share & $2.50 \\ & Preferred shares authorized & 900,000 \\ & Par value per preferred share & $30.00 \\ \hline February 1 & Common shares sold on February 1 & 1,750,000 \\ & Market price per common share on February 1 & $15.00 \\ \hline April 1 & Common shares reaquired to be held in treasury on April 1 & 35,000 \\ \hline May 1 & Market price per common share on April 1 & $17.00 \\ \hline & Treasury shares sold on May 1 & 7,000 \\ \hline September 1 & Market price per common share on May 1 & $18.70 \\ \hline & Treasury shares sold on September 1 & 10,500 \\ \hline \end{tabular} 1) Sold 1,750,000 common shares for $15.00 per share. \begin{tabular}{|c|c|c|c|} \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ February 1} \\ \hline & & & \\ \hline & & & \\ \hline \multicolumn{4}{|c|}{ 2) Reacquired 35,000 common shares to be held in treasury at $17.00 per share. } \\ \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ April 1} \\ \hline & & & 0 \\ \hline \multicolumn{4}{|c|}{ 3) Sold 7,000 of its treasury shares for $18.70 per share. } \\ \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|l|}{ May 1} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \multicolumn{4}{|c|}{ 4) Sold 10,500 of its treasury shares for $13.60 per share. } \\ \hline Date & General Journal & Debit & Credit \\ \hline \multicolumn{4}{|c|}{ September 1} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Prepare the shareholders' equity section of the balance sheet for the Panzarella Company at December 31