How to solve

D $-$ Cell Wireless, Inc. needed additional capital to expand, so the business incorporated. The charter from the state of New Mexico authorizes D$-$Cell Wireless, Inc. to issue

$100,000$ shares of $5\%,$$$50$ par value cumulative preferred stock and $140,000$ shares of $$1$ par value common stock. During the first month, D $-$ Cell Wireless, Inc. completed the

following transactions:

View the transactions.

Assume D$-$Cell Wireless, Inc.$\text{'}$s net income for the month was $$98,000.$

Read the requirements.

decrease in stockholders' equity with a minus sign or parentheses.$)$

Review the iournal entries from Requirement $1.$