Flounder Corp. has been authorized to issue 19,500 shares of $100 par value, 8%, noncumulative preferred stock and 1,050,000 shares of no-par common stock. The corporation assigned a $5 stated value to the common stock. At December 31, 2022, the ledger contained the following balances pertaining to stockholders' equity, Preferred Stock $145,000 Paid-in Capital in Excess of Par Value-Preferred Stock 20,500 Common Stock 1.935.000 Paid-in Capital in Excess of Stated Value-Common Stock 1.460,000 Treasury Stock (3,870 common shares) 42.570 Retained Earnings 82.500 Accumulated Other Comprehensive Income 48.500 The preferred stock was issued for $165,500 cash. All common stock issued was for cash. In November 3,870 shares of common stock were purchased for the treasury at a per share cost of $11. No dividends were declared in 2022 (a) 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 for the amounts.) (1) Issuance of preferred stock for cash. (2) Issuance of common stock for cash. (3) Purchase of common treasury stock for cash. No. Account Titles and Explanation Debit Credit 1. Cash 165500 Preferred Stock 145000 Paldin Capitalin Excess of Par Value-Preferred Stock 20500 2 Cash 33.95000 Common Stock 1985000 Paiden Capital in Ecess of Stated Value Cormon stock 40000 3. Treasury Store 12.570 Prepare the stockholders' equity section of the balance sheet at December 31, 2022 FLOUNDER CORP. Partial Balance Sheet $ I + . $