23. Equity transactions. Presented below is information related to Wyrick Company 1 The company is granted a charter that authorizes issuance of 15,000 shares of$100 par value preferred stock and 40,000 shares of no-par common stock. 2. 12,000 shares of common stock are issued to the founders of the corporation for land valued by the board of directors at $400,000. The board establishes a stated value of $10 a share for the common stock. 3. 6,000 shares of preferred stock are sold for cash at $110 per share. 4 The company issues 200 shares of common stock to its attorneys for costs associated with starting the company. At that time, the common stock was selling at $60 per share. Instructions Prepare the general journal entries necessary to record these transactions