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The Clothing Cove has two classes of stock authorized: 7%, $10 par preferred, and $1...

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Accounting

The Clothing Cove has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders equity during 2024, its first year of operations: January 2 Issues 100,000 shares of common stock for $18 per share. February 6 Issues 1,300 shares of 7% preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $23 per share. December 15 Resells 6,000 shares of treasury stock at $28

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