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Accounting for Share Transactions At the beginning of the year, The Mann Corporation, a private entity, decided to go public, A charter of incorporation was constructed which authorized the sale of 10 million shares of $6 par value common stock, 100,000 shares of $600 par value, 8% preferred stock, and 200,000 shares of $30 no-par-value convertible preferred stock. The following shares were sold as part of the firm's initial public offering: + 1,000,000 shares of common stock at $60 per share. * 100,000 shares of $600 par value, 8% preferred stock at $630 per share. * 100,000 shares of $30 convertible, no-par preferred stock at $330 per share. At year-end, the full dividend was declared and paid on both preferred stock offerings. Required Using a spreadsheet, record the financial effects of the shareholders' equity transactions for The Mann Corporation for the year. Enter amounts in thousands (i.e., $10,000,000 = $10,000). Use a negative sign with answers to indicate a reduction in an account balance. The Mann Corporation No-par Balance Common 8% Preferred No-par 8% Preferred Preferred Sheet Transaction (in thousands) Shares IPO IPO Preferred IPO Dividend Dividend Totals Assets Cash 0$ 0$ 0$ 0$ Shareholders' Equity Common Stock 0 0 0 APIC - Common 0 0 0 0 0 $100 Preferred Stock 0 0 0 0 0 0 APIC-Preferred 0 0 0 0 0 55 Cony, Preferred 0 0 0 Retained Earnings 0 0 Total Shareholders' Equity 0 0 0 0 0 0 0 0 0 0 $ 0

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