1. Journal Entries -Show the lournal entry for each of the following transactions. DR CR 10 Clark Corporation issued 90,000 shares of $40 preferred stock at par. ? LE Clark Corporation issued 115,000 shares of $5 common stock for $16 per share. Income Summary was closed to Retained Earnings...net income was $700,000. Using the data from the transactions above, create fill in the amounts below. Preferred Stock $40 par Common Stock $5 par Paid in Capital in Excess on Common Total Paid In Capital Retained Earnings Total Stockholders' Equity