E13-6 The charter of Laurelake Corporation authorizes the issuance of 5,000 shares of Class A preferred stock. 1.000 shares of Class B preferred stock, and 10.000 shares of com- mon stock. During a two-month period. Laurelake completed these stock-issuance transactions: Nov. 23 Dec. 2 12 Issued 2.000 shares of $1 par common stock for cash of $12.50 per share. Sold 300 shares of $4.50, no-par Class A preferred stock for $20.000 cash. Received inventory valued at $25,000 and equipment with market value of $16.000 for 3,300 shares of the $1 par common stock. 17 Issued 1.000 shares of 5%, no-par Class B preferred stock with stated value of $50 per share. The issue price was cash of $60 per share. Required Prepare the stockholders' equity section of the Laurelake balance sheet for the transactions given in this exercise. Retained Earnings has a balance of $46.000.