FILL IN PART B

Swifty Corporation has been authorized to issue 20,500 shares of $100 par value, 10%, noncumulative preferred stock and 1,078,000 shares of no-par common stock. The corporation assigned a $2.80 stated value to the common stock. At December 31, 2022, the ledger contained the following post-closing balances pertaining to stockholders' equity. Preferred Stock $110,000 Paidin Capital in Excess of ParPreferred Stock 33,500 Common Stock 1,078,000 Paidin Capital in Excess of Stated ValueCommon Stock 1,443,750 Treasury Stock (960 common shares) 12,480 Paidin Capital from Treasury Stock 1,440 Retained Earnings 82,500 All preferred stock was issued for land having a fair value of $143,500. All common stock issued was for cash. In November, 1,440 shares of common stock were purchased for the treasury at a per share cost of $13. In December, 480 shares of treasury stock were sold for $16 per share. No dividends were declared in 2022. (1) Issuance of preferred stock for land. (2) Issuance of common stock for cash. (3) Purchase of common treasury stock for cash. (4) Sale of treasury stock for cash. No. Account Titles and Explanation Debit Credit 1. Land 143500 Paid-in Capital in Excess of Par-Preferred Stock 33500 Preferred Stock 110000 2. Cash 2521750 Common Stock 1078000 Paid-in Capital in Excess of Stated Value-Common Stock 1443750 3. Treasury Stock 18720 Cash 18720 4. Cash 7680 Paid-in Capital from Treasury Stock 1440 Treasury Stock 6240(b) Prepare the stockholders' equity section at December 3 1, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) Swifty Corporation Balance Sheet (Partial)