Culver Corporation was organized on January 1, 2022. It is authorized to issue 12,500 shares of 8%, $100 par value preferred stock, and 477,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. Mar. Apr. May Aug. Sept. Nov. (a) 10 1 1 1 Issued 80,500 shares of common stock for cash at $4 per share. Issued 4,550 shares of preferred stock for cash at $105 per share. Issued 24,500 shares of common stock for land. The asking price of the land was $92,500. The fair value of the land was $85,000. Date Issued 80,000 shares of common stock for cash at $5.00 per share. Issued 10,000 shares of common stock to attorneys in payment of their bill of $44,500 for services performed in helping the company organize. Issued 11,500 shares of common stock for cash at $7 per share. Issued 2,500 shares of preferred stock for cash at $114 per share. Journalize the transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit

Post to the stockholders' equity accounts. (Post entrles in the onder of joumal entries pnesented in the previlous part) Paid-in Capital in Excess of Par-Preferred Stock Prepare the paid-in capital section of stockholders' equity at December 31,2022. (Enter the acoount name only and do not provide the descriptive information provided lin the question.) CULVER CORPORATION Balance Sheet (Partial)