exercise 10-7a prepare the stockholders' equity section (lo10-7) finishing touches has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. the following transactions affect stockholders' equity during 2021, its first year of operations: january 2 issues 100,000 shares of common stock for $22 per share. february 6 issues 1,700 shares of 9% preferred stock for $11 per share. september 10 purchases 11,000 shares of its own common stock for $27 per share. december 15 resells 5,500 shares of treasury stock at $32 per share.