58. Identifying and Analyzing Financial Statement Effects of Stock Transactions 02, Following is the stockholders' equity of Dennis Corporation at December 31,2014. 8% preferred stock, $50 par value, 10,000 shares authorized; $ 350,000 500,000 385,000 7,000 shares issued and outstanding Common stock, $20 par value, 50,000 shares authorized; 25,000 shares issued and outstanding 238,000 Retained earnings... Total stockholders' equity $1,543,000 The following transactions, among others, occurred during 2015. Jan. 15 Jan. 20 May 18 Issued 1,000 shares of preferred stock for $62 cash per share. Issued 4,000 shares of common stock at $36 cash per share. Announced a 2-for-1 common stock split, reducing the par value of the common stock to $10 per share. The authorization was increased to 100,000 shares. June 1 Issued 2,000 shares of common stock for $60,000 cash Sept. 1 Purchased 2,500 shares of common stock for the treasury at $18 cash per share. Oct. 12 Sold 900 treasury shares at $21 cash per share. Dec. 22 Issued 500 shares of preferred stock for $59 cash per share. REQUIRED a. Using the financial statement effects template,ilustrate the effects of each transaction. b. Prepare the journal entries for these transactions. Post the journal entries from b to the related T-accounts