Ava School of Learning obtained a charter at the start of the year that authorized 50,000 shares of no-par common stock and 20,000 shares of preferred stock, par value $10. During the year, the following selected transactions occurred: a. Collected $33 cash per share from four individuals and issued 4,300 shares of common stock to each b. Issued 5,300 shares of common stock to an outside investor at $33 cash per share c Issued 7,300 shares of preferred stock at $18 cash per share. Required: 1. Prepare the journal entries indicated for each of these transactions. 2 Prepare the stockholders' equity section of the balance sheet at December 31. At the end of the year, the accounts reflected net income of $29,000. No dividends were declared. Complete this question by entering your answers in the tabs below. Required Required 2 Prepare the journal entries indicated for each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the issuance to four individuals of 4,300 shares each of common stock with no par value for a price of $33 per share