Jude Corporation has been authorized to issue 20,000 shares of $100 par value, 10%, noncumulative preferred stock and 1,000,000 shares of no-par common stock. The corporation assigned a $2.50 stated value to the common stock. At December 31, 2014, the ledger contained the following balances pertaining to stockholders' equity.
Preferred Stock ...................... $ 120,000
Paid-in Capital in Excess of Par—Preferred Stock ........ 12,000
Common Stock ...................... 1,000,000
Paid-in Capital in Excess of Stated Value—Common Stock .... 1,600,000
Treasury Stock (1,000 common shares) ............. 9,000
Paid-in Capital from Treasury Stock ............... 1,000
Retained Earnings ....................... 82,000
The preferred stock was issued for land having a fair value of $132,000. All common stock issued was for cash. In November, 1,500 shares of common stock were purchased for the treasury at a per share cost of $9. In December, 500 shares of treasury stock were sold for $11 per share. No dividends were declared in 2014.

Instructions
(a) Prepare the journal entries for the:
(1) Issuance of preferred stock for land.
(2) Issuance of common stock for cash.
(3) Purchase of common treasury stock for cash.
(4) Sale of treasury stock for cash.
(b) Prepare the stockholders’ equity section at December 31, 2014.