Chapter 11 Homework Saved North Wind Aviation received its charter during January authorizing the following capital stock: 7 Preferred stock: 8 percent, par $10, authorized 20,000 shares. Common stock: par si, authorized 50,000 shares. 2 points The following transactions occurred during the first year of operations in the order given: a. Issued a total of 44,000 shares of the common stock for $19 per share. b. Issued 11,000 shares of the preferred stock at $20 per share. c. Issued 3,400 shares of the common stock at $24 per share and 1,100 shares of the preferred stock at $20. d. Net income for the first year was $52,000, but no dividends were declared. eBook Required: Prepare the stockholders' equity section of the balance sheet at December 31 Print NORTH WIND AVIATION Balance Sheet (Partial At December 31 Stockholders' Equity References Contributed Capital