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Era Communications, Inc., began 2018 with 310,000 shares of $1 par common stock issued and...

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Era Communications, Inc., began 2018 with 310,000 shares of $1 par common stock issued and outstanding. Beginning Paid-in capital in excess of par- common was $590,000, and retained earnings was $820,000. In February 2018, Era Communications, Inc., issued 9,000 shares of stock at $13 per share. In October, when the stock's market price was $14 per share, the board of directors distributed a 10 percent stock dividend. Read the requirements Requirement 1. Make the journal entries for the issuance of stock for cash and for the declaration and distribution of the 10 percent stock dividend. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the issuance of common stock for cash. Journal Entry Date Accounts Debit Credit Feb Requirements 1. Make the journal entries for the issuance of stock for cash and for the declaration and distribution of the 10 percent stock dividend Prepare the company's statement of stockholders' equity for the year ended December 31, 2018. Ignore net income. 2. Print Done

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