4) Prepare journal entries for the following transactions reported by Evans Corporation for the month of May: May 1 Issued 35,000 common shares at $15 per share. 21 Issued 1,400 shares of $5, cumulative preferred shares for a total of $144,200. 28 Exchanged 5,000 common shares for a patent valued at $82,000. 31 Evans Corporation reported a net loss for May amounting to $10,500. Prepare the entry to close the income summary account