Flint Corporation has been authorized to issue 20,900 shares of $100 par value, 7%, noncumulative preferred stock and 1,190,000 shares of no-par common stock. The corporation assigned a $5 stated value to the common stock. At December 31, 2017, the ledger contained the following balances pertaining to stockholders' equity Preferred Stock $159,000 Paid-in Capital in Excess of Par Value-Preferred Stock 21,900 Common Stock 2,005,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,600,000 Treasury Stock (4,900 common shares) 44,100 Retained Earnings 81,200 Accumulated Other Comprehensive Income 49,900 The preferred stock was issued for $180,900 cash. All common stock issued was for cash. In November 4,900 shares of common stock were purchased for the treasury at a per share cost of $9. No dividends were declared in 2017. Prepare the journal entries for the following. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (1) Issuance of preferred stock for cash. Issuance of common stock for cash (2) (3) Purchase of common treasury stock for cash. No. Account Titles and Explanation Debit Credit 1. The preferred stock was issued for $180,900 cash. All common stock issued was for cash. In November 4,900 shares of common stock were purchased for the treasury at a per share cost of $9. No dividends were declared in 2017. Prepare the journal entries for the following. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Issuance of preferred stock for cash Issuance of common stock for cash (1) (2) Purchase of common treasury stock for cash (3) No. Account Titles and Explanation Debit Credit 1 2. 3