W P13-41A (similar to) Question Help B-Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B-Wireless to issue 90,000 shares of 8%, $100 par value cumulative preferred stock and 110,000 shares of $3 par value common stock. During the first month, B-Wireless completed the following transactions: Click the icon to view the transactions.) Read the requirements. Date Accounts and Explanation Debit Credit Oct 10 18.000 Cash Dividends Dividends Payable-Common Dividends Payable-Preferred 10,000 8,000 Declared cash dividend. Oct. 25: Paid the cash dividend. Date Debit Credit Oct. 25 Accounts and Explanation Dividends Payable-Common Dividends Payable-Preferred Cash 10,000 8,000 18,000 Paid cash dividend. Requirement 2. Prepare the stockholders' equity section of B-Wireless's balance sheet at October 31, 2018. Assume B-Wireless's net income for the month was $90,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) B-Wireless Wireless Balance Sheet (Partial) October 31, 2018 Stockholders' Equity Paid-In Capital: Preferred Stock-8%, $100 Par Value; 72000 shares authorized, 1,000 shares issued and outstanding Paid-In Capital in Excess of Par-Preferred Common Stock-$3 Par Value; 72000 shares authorized 35,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital $ 100,000 30,000 105,000 230,000 Retained Earnings 465,000 72.000 537,000 Total Stockholders' Equity $ Choose from any list or enter any number in the input fields and then click Check Answer. All parts showing Clear All Check