#1 PART A: (30pts) Strand Corp has 200,000 shares of $5 par Common Stock authorized and 100,000 shares of $15 par Preferred Stock authorized Using the Balance Sheet Equation below, account for the folloiwng transactions: NOTE: you can also use Journal Entries. (debits & credits) instead of the Balance Sheet Equation, if you like on Jan 5, Strand sells 10,000 shares of its Preferred Stock for $55/share On March 10, Strand sells 25,000 shares of its Common Stock for $17/share On June 15, Strand sells 30,000 shares of its Common Stock for $22/share On Aug 29, Strand issues 32,000 shares of its Preferred Stock for $63/share On Dec 2, Strand issues 50,000 shares of its Common Stock for $31/share ASSETS Cash = LIABILITIES -EQUITY-- Common Stock APIC-Comm Stk Preferred Stock APIC-Pref Stk Retained Earnings revenues (exps) (dividends) Totals $0 $0 $0 $0 $0 $0 $0 $0 $0 Assets = $0 Liabs = $0 + Equity = $0