B $-$ Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B$-$Mobile to issue $90,000$ shares of $7\%,$$$100$ par value cumulative preferred stock and $170,000$ shares of $$1$ par value common stock. During the first month, B $-$ Mobile completed the following transactions:

$($i$)($Click the icon to view the transactions.$)$

Requirements

Record the transactions in the general journal.

Prepare the stockholders' equity section of B $-$ Mobile's balance sheet at October $31,2016.$ Assume B $-$ Mobile's net income for the month was $$91,000.$

Paid$-$ln Capital:

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Total Paid$-$In Capital

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Total Stockholders' Equity

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