A $-$ Mobile Wireless, Inc. needed additional capital to expand, so the business incorporated. The charter from the state of New Mexico authorizes

A $-$ Mobile Wireless, Inc. to issue $80,000$ shares of $6\%,$$$70$ par value cumulative preferred stock and $120,000$ shares of $$5$ par value common stock. During the first month, A $-$ Mobile Wireless, Inc. completed the following transactions:

View the transactions.

Assume A $-$ Mobile Wireless, Inc.$\text{'}$s net income for the month was $$97,000.$

Read the requirements.

Requirement $1.$ Record the transactions in the general journal. $($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

Oct. $2$: Issued $22,000$ shares of common stock for a building with a fair value of $$310,000.$Requirements

Record the transactions in the general journal.

Prepare a statement of stockholders' equity for A $-$ Mobile Wireless, Inc. for the month ended October $31,2025.$

Prepare the stockholders' equity section of A $-$ Mobile Wireless, Inc.$\text{'}$s balance sheet at October $31,2025.($Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.$)$

Requirements

Record the transactions in the general journal.

Prepare a statement of stockholders' equity for A $-$ Mobile Wireless, Inc. for the month ended October $31,2025.$

Prepare the stockholders' equity section of A $-$ Mobile Wireless, Inc.$\text{'}$s balance sheet at October $31,2025.($Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.$)$