Current Attempt in Progress ley Accounting eekly Updates Miley PLUS Support Splish Brothers Inc. has been authorized to issue 20.500 shares of $100 per value, 10% noncumulative preferred stock and 1,131,300 shares of no-par common stock. The corporation assigned a $270 stated value to the common stock At December 31, 2019, the ledger contained the following balances pertaining to stockholders' equity Preferred Stock $125,000 Paid in Capital in Excess of Par-Preferred Stock 18.000 Common Stock 1,131,300 Pald in Capital in Excess of Stated Value Common Stock 2.053.100 Treasury Stock (367 common shares) 4.771 Paid in Capital from Treasury Stock Retained Earnings 81.500 Accumulated Other Comprehensive income 51.000 The preferred stock was issued for land having a fair value of $143.000. All common stock issued was for cash. In November, 550 shares of common stock were purchased for the treasuryata per share cost of $13 in December 183 shares of treasury stock were sold for $16 per share. No dividends were declared in 2019, (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. Debit Credit No. Account Titles and Explanation 1. Land 143000 Preferred Stock 125000 18000 2. Paid-in Capital in Excess of Par-Preferred Stock Cash 3184400 Common Stock 1131300 2053100 3. Paid-in Capital in Excess of Stated Value-Common Stock Treasury Stock 7150 Cash 7150 4. Cash 2928 Treasury Stock 2379 Paid-in Capital from Treasury Stock 549 Splish Brothers Inc. Balance Sheet (Partial) December 31, 2019 Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock Total Paid in Capital Additional Paid-in Capital Preferred Stock Common Stock Paid in Capital from Treasury Stock Less : Treasury Stock Total Stockholders Preferred Stock Total Paid-in Capital Additional Paid in Capital Preferred Stock Common Stock Paid-in Capital from Treasury Stock Less : Treasury Stock Total Stockholders' Equity