A -Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes A - Cell to issue 90,000 shares of 8%, $100 par value cumulative preferred stock and 160,000 shares of $2 par value common stock. During the first month, A - Cell completed the following transactions: i (Click the icon to view the transactions.) - X Read the requirements. More info Oct. 2 Issued 24,000 shares of common stock for a building with a market value of $210,000. Oct. 6 Oct. 25: Paid the cash dividend. Issued 550 shares of preferred stock for $130 per share. Oct. 9 Issued 12,000 shares of common stock for cash of $48,000. Date Accounts and Explanation Debit Credit Declared a $21,000 cash dividend for stockholders of record on Oct. 20. Use a separate Oct. 25 Dividends Payable-Common 16,600 Oct. 10 Dividends Payable account for preferred and common stock. Dividends Payable-Preferred 4,400 Oct. 25 Paid the cash dividend. Cash 21,000 Assume A - Cell's net income for the month was $91,000. Paid cash dividend. Requirement 2. Prepare the stockholders' equity section of A - Cell's balance sheet at October 31, 2018. Assume A - Cell's net income for the month Print Done the balance sheet.) A-Cell Wireless Balance Sheet (Partial) October 31, 2018 Stockholders' Equity - X Paid-In Capital: Requirements Preferred Stock-8%, $100 Par Value; shares authorized, 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of A - Cell's balance sheet at October 31, 2018. Assume A - Cell's net income for the month was $91,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) Total Paid-In Capital Print Done Total Stockholders' Equity\f