Connect 11 Homework Saved Help Save & Ext Submit Check my work Part 1 of 2 Required information [The following information applies to the questions displayed below) Brice Co. completed the following transactions In Year 1, the first year of operation: 0.9 points 1. Issued 40,000 shares of no-par common stock for $10 per share. 2. Issued 8,000 shares of $20 par, 6 percent, preferred stock for $20 per share. 3. Pald a cash dividend of $9,600 to preferred shareholders 4. Issued a 10 percent stock dividend on no par common stock. The market value at the dividend declaration date was $12 per share. 5. Later that year, issued a 2-for-1 split on the shares of outstanding common stock The market price of the stock at that time was $50 per share. 6. Produced $140,000 of cash revenues and incurred $72,000 of cash operating expenses. 7. Closed the revenue, expense, and dividend accounts to retained earnings. eBook Print References Statement of Cash Flows Event Assets Liabilities BRICE CO. Statements Model For Year 1 Balance Sheet Income Statement Stockholders' Equity Revenue Expenses Preferred Common Retained Stock Stock Earnings 0 + 400,000 100.000+ 0 0 0 0 (0.000) 0 48.000 400,000 FA 100,000 (0,000)| FA FA ooooooo OOOOO 140.000 da - Revenues 8b - Expenses Totals 140.000 72 000 618,400 140.000 (72.000)| 018.400 OA OA 445.000 800) 140.000 - (72.000)- 0