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: 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. Jan 23 Feb 12 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