On January 1,Year 1,a company had the following transactions:Issued 10,000 shares of $2 par common stock for $12 per share.Issued 3,000 shares of $50 par,6% cumulative preferred stock for $70 per share.Purchased 1,000 shares of previously issued common stock for $15 per share.The company had the following dividend information available: 
Using the following format,fill in the correct values for each year: 
Definitions:
Purchase Order
A formal document sent by a buyer to a seller with details about a purchase, including quantities and prices of products.
Purchase Contract
A purchase contract is a legal agreement between a buyer and seller detailing the terms and conditions under which a product or property is sold.
Legal Offer
A proposal by one party to another intended to create a legally binding agreement upon acceptance.
Transformation Processes
The operations or activities that convert inputs into outputs, adding value in manufacturing or service provision.
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