E11-6 Recording and Reporting Stockholders' Equity Transactions [LO 11-2, LO 11-4] Ava School of Learning obtained a charter at the start of the year that authorized 50,000 shares of no-par commons shares of preferred stock, par value $10. During the year, the following selected transactions occurred a Collected $47 cash per share from four individuals and issued 5700 shares of common stock to each b Issued 6,700 shares of common stock to an outside investor at $47 cash per share c Issued 8,700 shares of preferred stock at $18 cash per share. Required: Prepare the storckolders cquly section fthe balanee sheetat December 31 t the end ofthe yeat the accou income of $43,000. No dividends were declared 2 Prepare the stockholders equity section of the balance sheet at December 31. At the end of the year, the accou Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries indicated for each of these transactions. (If no entry is required for a transaction/event, se Entry Required" in the first account field.)