Bruin Corporation has been authorized to issue 5,000 shares of 12 percent noncumulative, nonparticipating preferred stock with a par value of $100 per share and 200,000 shares of common stock with a par value of $10 per share. As of December 31,2021,2,600 shares of preferred stock and 19,000 shares of common stock had been issued. A condensed trial balance as of December 31,2021 , is provided below. Assume that the federal corporate income tax is $49,375. 63% of available points - For each transaction, prepare the required entry (adjusting or closing) on the General Journal tab. List debits before credits. If no entry is required, select "No journal entry required" in the first account field