Pronghorn Corp is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 24,400 shares for cash at $51 per share. July 1 Issued 36,600 shares for cash at $56 per share. (a) Prepare a tabular summary to record the transactions. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity Item that was reduced.) Assets Liabilities + PIC in Excess o Com Cash Common Stock Feb. 1 $ July 1 e Textbook and Media Pronghorn Corp is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 24,400 shares for cash at $51 per share. July 1 Issued 36,600 shares for cash at $56 per share. (a) Prepare a tabular summary to record the transactions. Include margin explanations for the changes in revenues and expenses. (if a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Paid-in-Capital PIC in Excess of Par Value PIC in Excess of Par Value Com Pref. Stock Pref. Revenue e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer O Pronghorn Corpis authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Issued 24 400 shares for cash at $51 per share. July 1 Issued 36,600 shares for cash at $56 per share. Feb. 1 (a) Interest expense Prepare a tabula summary to record the transactions. Include margin explanations for transaction causes a decrease in Assets, Liabilities of Stockholders' Equity , ploce a negative sta Paldin capital excess of preferred stock entered for the particular Asset, Liability or Equity item that was reduced.) Paid in capital in excess of common stock Retained Earnings Preferred stock Common stock que Expense Dividend Dividends e Textbook and Media