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This question has four parts:

1. Table (1 image)
2. Journal Entry (2 images)
3. Balance Sheet (1 image)
4. Maximum Amount of Cash Dividends (1 image)

Required Information [The following Informatlon applles to the questlons displayed below.] Incentlve Corporation was authorized to Issue 12,000 shares of common stock, each with a $1 par value. Durlng Its first year, the following selected transactions were completed: a. Issued 5,600 shares of common stock for cash at $21 per share. b. Issued 1,600 shares of common stock for cash at $24 per share. Requlred: 1. Complete the table below, Indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.) Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account fleld.) Journal entry worksheet Record the issuance of 5,600 shares of common stock with a par value $1 for a price of $21 per share. Note: Enter debits before credits. Prepare the journal entry required for each of these transactions. (If no entry is requlred for a transaction/event, select "No Journal Entry Required" In the flist account fleld.) Journal entry worksheet Record the issuance of 1,600 shares of common stock with a par value $1 for a price of $24 per share. Note: Enter debits before credits. 3. Prepare the stockholders' equity section as It should be reported on the year-end balance sheet. At year-end, the accounts reflected a profit of $300. Incentlve Corporation has $44,000 In the company's bank account. At year-end, the accounts reflected a profit of $300. What is the maximum amount of cash dividends the company can declare and distribute

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