FULL SCREEN PRINTER VERSTON BACK NEXT Problem 13-3A The stockholders' equity accounts of Castle Corporation on January 1, 2017, were as follows Preferred Stock (8 % , $52 par, 10,000 shares authorized) $ 390,000 Common Stock ($1 stated value, 2,000,000 shares authorized) 1,300,000 Paid-in Capital in Excess of Par-Preferred Stock dy 105,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,500,000 Retained Eamings 1,800,000 Treasury Stock (11,000 common shares) 44,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity Feb. 1 1ssued 24,000 shares of common stock for $124,000. Apr. 14 Sold 5,500 shares of treasury stock-common for $33,400. Sept. 3 Issued 4,900 shares of common stock for a patent valued at $34,000. Nov. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $6,100. Dec. 31 Determined that net income for the year was $435,000 No dividends were declared during the year. Journalize the transactions and the closing entry for net income. (Record journal entries in the order presented in the problem. Credit account tittes are automatically indented when amount is entered. Do not indent manually.) Credit Debit Account Titles and Explanation Date Journalize the transactions and the closing entry for net income. (Record journal entries in the order presented in the problem. Credit account titles are automaticaly indented when amount is entered. Do not indent manually.) CES Debit Credit Account Titles and Explanation Date tudy eion 4-24 D 2000-2039 Jehn WleyA Spns, Inc All Rights Reseved. A Disesion.ofjghnuwiey A Sen, Inc Tatinr