entries for stock transactions

pare stockholders' equity section.

P$13\mathrm{.}6($LO $2,3),$ AP Financial Statement Irwin Corporation has been authorized to issue $20,000$ shares of $$100$ par value, $10\%,$ preferred stock and $1,000,000$ shares of no$-$par common stock. The corporation assigned a $$2\mathrm{.}50$ stated value to the common stock. At December $31,2022,$ the ledger contained the following balances pertaining to stockholders' equity.

$\backslash$table$[[$Preferred Stock,$$120,000$