The Wendt Hospital Supply Corporation was organized in 20xx. It was authorized to issue 100,000 shares of no-par common stock with a stated value of $5 per share, and 20,000 shares of $100 par value, 6 percent noncumulative preferred stock. On March 1, the company issued 60,000 shares of its common stock for $15 per share and 8,000 shares of its preferred stock for $ 1 00 per share.

1 . Record the issuance of the stock in T accounts.
2. Prepare the stockholders' equity section of Wendt Hospital Supply Corporation's balance sheet as it would appear immediately after the company issued the common and preferred stock.