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Required information Problem 11-26A (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 recelved a charter that authorized the issuance of 110,000 shares of $7 par common stock and 21,000 shares of $100 par, 4 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 January 5 Sold 16,500 shares of the $7 par conmon stock for $9 per share. January 12 Sold 2,100 nharen of the 4 percent preferred stock for $110 per share. April 5 sold 22,000 shares of the $7 par common 1 tock for $11 per share. December 31 During the year, earned $308,200 in cash revenue and paid $235,600 for cash operating expenses. December 31 Declared the cash dividend on the outstanding shares of preferred atock for Year 1 , The dividend wi11 be pald on Yebruary 15 to ntookholderk of record on January 10 , Year 2. Year 2 February 15 Paid the cash dividend declared on December 31, Year 1. Mareh 3 sold 3,150 shares of the $100 par preterred stock for $120 per share. May 5 Purchased 600 shares of the common stoek as treasury stock at $14 per share. December 31 During the year, earned $250,800 in cash reventes and paid $173,800 for cash operating expenses, December 31 Declared the annual dividend on the preferred stock and a $0.25 per ahare dividend on the common stock. a. Organize the transaction deta in accounts under an accounting equation. Note. Enter any decreases to account balances with a minus sign. Not all colls require input