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Selected transactions by Onyx Corp. for the year ended December 31, 2018 are listed below 1. Record t he transactions in a General Journal Jan Feb Mar 1 Sold Equipment for $215,000. Equipment had a cost of $320,000 and accumulated depreciation of 3 Issued 15,000 shares of $20 par common stock at $30, receiving cash, 15 issued 4,000 shares of SBO par preferred5% stock at $100, receiving an $105,000 2 Purchased new Equipment at cost of $535,000 for cash. Equipment is estimated to have a 10 year useful life with zero salvage value, and will be depreciated on a straight-line basis. Mar 30 Purchased Merchandise from Arctic Fox, on account for $283,000. Terms 2/15, net 30. Apr 13 Paid Arctic Fox invoice. 1 Issued S500,000 of 10-year, s% bonds at 104, with interest payable semiannually 2 Purchased Land for $1,100,000 16 Declared a dividend of date of record, 100,000 shares of common stock were outst 20,000 shares of preferred stock were outstanding. Journalize this transaction as a single entry so.50 per share on common stock and $1.00 per share on preferred stock On the anding (no treasury shares were held), and 26 Paid the cash dividends declared on May 16. 8 Purchased 8,000 shares of treasury common stock at $33 per share. 30 Declared a $1.00 cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock were outstanding. 11 Paid the cash dividends declared on Jul. 11 to the preferred stockholders. 7 Sold, at $38 per share, 2,600 shares of treasury common stock purchased on jun. 8 Jul oct 31 Recorded the payment of semiannual interest on the bonds issued on May 1 and the amortization of the premium for six months. The amortization is determined using the straight-line met Dec 31 Physical inventory taken indicated an inventory shrinkage of $3,300. 31 Recorded depreciation expense for the Equipment purchased in March 31 Computed Commissions for December (amounts to be paid in January). Gross Commissions were $20,000. Employee's payroll taxes withheld were as follows: Federal Income Tax$2,000 Social Security Medicare 6.2% 1,45% 31 Computed Onyx Employer's payroll taxes (to be remitted in January)-including employer match for Social Security and Medicare, as well as Unemployment Tax of 5.4%. 1. Journalize the above transactions in a General Journal. 2. After all transactions for the year ended December 31, 2018 had been posted (including the transactions f Part 1, as well as year-end adjusting journal entries), a Trial Balance was prepared. THIS HAS BEEN PROVIDE From this trial balance, prepare IN GOOD FORM a. A Multi-step income statement for the year ended 12/31/18. b. Prepare a Statement of Retained Earnings for the year ended 12/31/18. c. Prepare a Balance Sheet as of 12/31/18 mne number of share ach Flow from Operating Activities section of the Cash Flow Statement

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