Hawkeye Corporation's balance sheet at December 31, 2019, is presented below. HAWKEYE CORPORATION Balance Sheet December 31, 2019 Cash $25.100 Accounts payable $26,200 Accounts receivable 47,600 Common stock ($10 par) 79,000 Allowance for doubtful accounts (1,400) Retained earnings 137,300 Supplies 4,500 Land 40.400 Buildings 149,500 Accumulated depreciation-buildings (23,200) $242,500 $242,500 During 2020, the following transactions occurred. 1. On January 1, 2020, Hawkeye issued 1.100 shares of $40 par, 7% preferred stock for $45,100. 2. On January 1, 2020, Hawkeye also issued 900 shares of the $10 par value common stock for $19,800. 3. Hawkeye performed services for $305,000 on account. 4. On April 1, 2020, Hawkeye collected fees of $37,200 in advance for services to be performed from April 1, 2020, to March 31,2021. 5. Hawkeye collected $300,600 from customers on account. 6. Hawkeye bought $31,800 of supplies on account. Hawkeve naid S 00.00 accounts pavable