CALCULATOR PRINTER VERSION BACK NEXT Problem 13-06A -b (Part Level Submission) (Video) Grouper Corporation has been authorized to issue 20.500 shares of $100 par value, 10%, preferred stock and 976,300 shares of ropar common stock. The corporation assigned a $2.60 stated value to the common stock. At December 31, 2020, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Pald-in Capital in Excess of Par-Preferred Stock Common Stock Pald-in Capital in Excess of Stated Value-Common Stock Treasury Stock (1,140 common shares) Pald-in Capital from Treasury Stock Retained Earnings Accumulated Other Comprehensive Income $120,000 24,000 976,300 2,027,700 13,680 82.500 59,000 The preferred stock was issued for land having a fair value of $144,000. All common stock issued was for cash. In November 1,710 shares of common stock were purchased for the treasury ata per share cost of $12. In December, 570 shares of treasury stock were sold for $15 per share. No dividends were declared in 2020 (a) Prepare the journal entre for the railccount titles are automatically indented when amount is entered. Do not indent manually.) prepare the soumana Chipe question part (1) Issuance of preferred stock for land (2) Issuance of common stock for cash (3) Purchase of common treasury stock for cash (4) Sale of treasury stock for cash No. Account Titles and Explanation Prepare the journal entries for the Credit accounts entered. Do not inden manually) are automatically indeed when (1) w ance of preferred stock for land (2) l ance of common stock for cash (3) Purchase of common treasury stock for cash (4) Sale of treasury stock for cash No. Accountries and Explanation Prepare the d e provide the descriptive ity section December 31, 2020. Enter the account formation provided in the quest ) CONCORD CORPORATION Balance Sheet (Partial)