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year 1&2 balance sheets

Problem 11-25A (Static) Recording and reporting stock transactions and cash dividends across two accounting cycles LO 11-3, 11-6 [The following information applles to the questions displayed below] Sun Corporation received a charter that authorized the issuance of 100,000 shares of $10 par common stock and 50,000 shares of $50 par, 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation. Year 1 January 5 sold 6,000 shares of the $10 par eomen atoek for $15 per abare. Innuary 12 . Sold 1,000 shares of the 5 percent preferred stock for 553 per share. Aprit 5 sold 30,000 thares of the $10 par comon atoek for $21 per share. December 31 Declared the caib dividend on the outatanding shares of preferred atoek tor. Tear 1 . The dividend will be paid on Februsiry 15 to ntookbolderi of record on January 10, Year 2. Year 2 Pebruary Paid the eanh dividend declared en Decenber. 31 , rear 1. 15 wareh 3 seld 15,000 whared of the 450 - par preferred atiek foe 553 per ahare. Decenter buring the year, earned $210, ees in cash reveases and pald 893,000 for eash operating expetiaes. 71 December Declared the annual dividend os the preferred stock and a 50.50 per ahate dividend on the ononon 91 trock. 91 Problem 11-25A (Static) Part b Required information \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{\begin{tabular}{l} Balance Sheet \\ \hline As' of December 31, Year 1 \end{tabular}} & \\ \hline Assets & & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline & & \\ \hline Total liabilities & & \\ \hline Stockholders' equity & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total paid-in capital & & \\ \hline \end{tabular} Prey of 6 Next (1) Required information \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ Balance Sheet } & \\ \hline As of December 31, Year 2 & \\ \hline & & \\ \hline Assets & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline & & \\ \hline & & \\ \hline Total liabilities & & \\ \hline Stockholders' equity & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total liabilities and stockholders' equity & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Prev 5cos6 of 6 Next

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