[The following information applies to the questions displayedbelow.] Concord Corp. completed the followingtransactions in 2014, the first year of operation: 1. Issued 32,000shares of $20 par common stock for $30 per share. 2. Issued 4,900shares of $54 par, 8 percent, preferred stock at $56 per share. 3.Paid the annual cash dividend to preferred shareholders. 4. Issueda 5 percent stock dividend on the common stock. The market value atthe dividend declaration date was $43 per share. 5. Later thatyear, issued a 2-for-1 split on the 33,600 shares of outstandingcommon stock. 6. Earned $250,700 of cash revenues and paid $131,000of cash operating expenses. References Section Break Problem 8-22Recording and reporting stock dividends LO 8-4, 8-6, 8- 7 Problem8-22 Part b b. Prepare the stockholders’ equity section of thebalance sheet at the end of 2014.
