1. Journal Entries--Show the journal entry for each of the following transactions. DR CR Clark Corporation issued 80,000 shares of $35 preferred stock at par. Clark Corporation issued 110,000 shares of $4 common stock for $16 per Share. Income Summary was closed to Retained Earnings...net income was $600,000 Using the data from the transactions above, create fill in the amounts below Preferred Stock $35 par Common Stock $4 par Paid In Capital in Excess on Common Total Paid In Capital Retained Earnings Total Stockholders' Equity