During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 25,000 shares of common stock for $124,000. Apr. 14 Sold 5,900 shares of treasury stock-common for $32,000. Sept. 3 Issued 4,700 shares of common stock for a patent valued at $34,300. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,800. Dec. 31 Determined that net income for the year was $435,000. No dividends were declared during the year. Journalize the transactions and the closing entry for net income. (List all deblt 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.) Sept. 3 Patents Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Dec. 31 Treasury Stock Cash Income Summary Retained Earnings Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Use J5 for the posting reference.) (Post entries in the order of journal entries presented in the previous part.) Retained Earnings Treasury Stock Paid-in Capital in Excess of Par-Preferred Stock \begin{tabular}{cccc|c|} Date Explanation Ref. Debit & Credit \\ \hdashline Balance & v & \\ \hline \end{tabular} Paid-in Capital in Excess of Stated Value -Common Stock ExplanationRef.Balance Debit Credit Balance J5 Paid-in Capital from Treasury Stock Date Explanation Ref. Debit Credit Balance J5 Prepare a stockholders' equity section at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Paid-in Capital from Treasury Stock $ $ 100000 1578600 Paid-in Capital in Excess of Par-Preferred Stock $ 100000 Paid-in Capital in Excess of Stated Value-Common Stock Paid-in Capital from Treasury Stock 2500 Less : Treasury Stock Total Stockholders' Equity