BWireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes BWireless to issue 120,000 shares of 10%, $100 par value cumulative preferred stock and 170,000 shares of $1 par value common stock. During the first month, BWireless completed the following transactions:

Oct. 2 Issued 25,000 shares of common stock for a building with a market value of $130,000. Oct. 6 Issued 950 shares of preferred stock for $170 per share. Oct. 9 Issued 13,000 shares of common stock for cash of $52,000. Declared a $15,000 cash dividend for stockholders of record on Oct. 20. Use a separate Oct. 10 Dividends Payable account for preferred and common stock. Oct. 25 Paid the cash dividend. Assume B - Wireless's net income for the month was $87,000. Requirements 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of B - Wireless's balance sheet at October 31, 2018. Assume B - Wireless's net income for the month was $87,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) More info Requirements Out-6 tasuestigt shaics of preferred stiok for 5170 pea share. Qce 9 lssued 15.000 shares of comman stock hic caeh of 560.00L. 2. Pricero the stoddoaidere vquitg sacien of R - Celfs bulatice atwat at Oit: 10 Doidenta Peyatle acooint for preferred and cuavticar ahad. Cation Fadeveashdridens. Ascume ti- Celfa net incoree for the marth was 591,803