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The charter for WCAP - TV, Inc. authorizes the company to issue 100,000 shares of \$7, no-par preferred stock and 500,000 shares of common stock with $1 par value. During its start-up phase, WCAP - TV completed the following transactions: (Click on the icon to view the transactions) Read the requirements. More info aber 30,2024 , The charter for WCAP - TV, Inc. authorizes the company to issue 100,000 shares of $7, no-par preferred stock and 500,000 shares of common stock with $1 par value. During its start-up phase, WCAP - TV completed the following transactions: (Click on the icon to view the transactions) Read the Requirement 2. Prepare the stockholders' equity section of the WCAP - TV balance sheet at September 30,2024 , assuming WCAP - TV, Inc. had net income of $31,000 for the month