C-Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C-Wireless to issue 50,000 shares of 5%, $100 par value cumulative preferred stock and 180,000 shares of $3 par value common stock. During the first month, C- Wireless completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1 is NOT required for this exam. Complete Requirement 2. Note: This is the first month incorporated and thus is the first month of operations for this new entity. Friendly Reminder: Be careful to list the different types of stock and excess, if any, in the appropriate order. Requirement 2. Prepare the stockholders' equity section of C-Wireless's balance sheet at October 31, 2018. Assume C- Wireless's net income for the month was $28,000. C-Wireless Wireless Balance Sheet (Partial) October 31, 2018 Stockholders' Equity Paid-In Capital Preferred Stock-5%, $100 Par Value Paid-In Capital in Excess of Pur-Preferred Common Stock $3 Par Value; Paid-In Capital in Excess of Par-Common Total Paid-in Capital Retained Earnings Total Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next question. ? C-Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C-Wireless to issue 50,000 shares of 5%, $100 par value cumulative preferred stock and 180,000 shares of $3 par value common stock. During the first month, C- Wireless completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1 is NOT required for this exam. Complete Requirement 2. Note: This is the first month incorporated and thus is the first month of operations for this new entity. Friendly Reminder: Be careful to list the different types of stock and excess, if any, in the appropriate order. Requirement 2. Prepare the stockholders' equity section of C-Wireless's balance sheet at October 31, 2018. Assume C- Wireless's net income for the month was $28,000. C-Wireless Wireless Balance Sheet (Partial) October 31, 2018 Stockholders' Equity Paid-In Capital Preferred Stock-5%, $100 Par Value Paid-In Capital in Excess of Pur-Preferred Common Stock $3 Par Value; Paid-In Capital in Excess of Par-Common Total Paid-in Capital Retained Earnings Total Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next