Bridgeport Corporation is authorized to issue 24,000 shares of $50 par value, 10% preferred stock and 120,000 shares of $5 par value common stock On January 1.2022, the ledger contained the following stockholders' equity balances. During 2022, the following transactions occurred. Feb. 1 Issued 2,200 shares of preferred stock for land having a fair value of $122,000. Mar. 1 Issued 1,300 shares of preferred stock for cash at $70 per share. July 1 Issued 16,000 shares of common stock for cash at $8 per share. Sept. 1 Issued 450 shares of preferred stock for a patent. The asking price of the patent was $32,000. Market price for the preferred stock was $69 and the fair value for the patent was indeterminable. Dec. 1 Issued 8,500 shares of common stock for cash at $8,50 per share. Dec 31 Net income for the year was $264,000. No dividends were declared. Journalize the transactions and the closing entry for net income. (List all debit entries before credit entries. Record joumal entries in the order presented in the problem. Credit account titfes are qutomatically indented when amount is entered. Do not indent manually.) Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Prepare a stockholders' equity section at December 31, 2022. (Enter the account name only and do not provide the descriptive