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Required Information Problem 11-26A (Algo) Recording and reporting stock transactions and cash dividends across two accounting cycles LO 11-3, 11-6 [The following information applies to the questions displayed below) Sun Corporation received a charter that authorized the issuance of 87,000 shares of S6 par common stock and 19.000 shares of $125 par. 4 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation Year 1 Jan. 5 sold 13,ese shares of the $6 par common stock for $8 per share. 12 Seid 1,900 shares of the 4 percent preferred stock for $135 pee share. Apr. 5 sold 17,48e shares of the $6 par conmon stock for $10 per share Dec. 31 During the year, earned $311,180 in cash revenue and paid $240,000 for cash operating expenses. 31 Declared the cash dividend on the outstanding shares of preferred stock for Year is the dividend will be paid on February 15 to stockholders of record on January 10, Year 2. Year 2 Feb. 15 Paid the cash dividend declared on December 31, Year 1. Mara Sold 2,850 shares of the $125 par preferred stock for $145 per share, May. Purchased see shares of the common stock as treasury stock at $12 per share Dec.3. During the year, earned $254.188 in cash revenues and paid $279,50 for cash operating expenses 31 Declared the annual dividend on the preferred stock and a se.25 per share dividend on the common stock Problem 11-26A (Algo) Part a Heque infermation sign. Not all cells require Input.) SON CORPORATION EN Payale Rat E Aceites for Pored the Yew lans 104.400 . T100 20.00 --- . -- . . A D 31 Dec 31 . loopron TL 100+ 30.00 . 10 Year 2 + . + May Dec 31 . 04.00 2.300 28.130

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