E10-24A. (Learning Objectives 2, 6: Account for issuance of stock; prepare the stockholders' equity section of a balance sheet) Pickering Stores is authorized to issue 11,000 shares of common stock. During a two-month period, Pickering completed these stock transactions: LO 2, Jan 23 Feb Issued 1,000 shares of $6.00 par common stock for cash of $14.00 per share. Received inventory with a market value of $11,000 and equipment with market value of $44,000 for 3,800 shares of the $6.00 par common stock. Requirements 1. Journalize the transactions. 2. Prepare the stockholders' equity section of Pickering's balance sheet for the transactions. The company's Retained Earnings account has a balance of $41,000. 2312