CUCK HERE TO REVIEW LEARNING OBECTIVES QUESTION 1 partially correct Mark 99 oo of 114 00 out P question Stockholders' Equity: Transactions and Balance sheet Presentation The stockholders' equity accounts of Windham Corporation at January 1 appear below 8 Percent preferred stock, $25 par value, 50,000 shares authorized: 6,800 shares issued and outstanding $170,000 Common stock, $10 par value, 200,000 shares authorized 50,000 shares issued and outstanding 500,000 Paid-in capital in excess of par value-Preferred stock 68,000 Paid-in capital in excess of par value--Common stock 200,000 Retained earnings 270,000 During the year, the following transactions occurred: Jan. 10 Issued 35,000 shares of common stock for S17 cash per share. 23 Purchased 10,000 shares of common stock as treasury stock at s19pershare. Mar. 14 sold one-half of the treasury shares acquired January 23 for s21 per share. July 15 issued 3,500 shares of preferred stock in exchange for equipment with a fair market value of $128,000. Now. 15 sold 2,000 of the treasury shares acquired January 23 for s24 per share. Dec 31 closed the net income of $59,000 to the Retained Earnings account Required a. Set up Taccounts for the stockholders' equity accounts as of the beginning of the year and enter the January1balances. HINT: Complete part b. below prior to entering T-account data. Cash Preferred Stock