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Martinez Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock ( $5 par) $500,000, Paid-in Capital in Excess of Par-Common Stock $180,000, and Retained Earnings $120,000. In 2022, the company had the following treasury stock transactions. Mar. 1 Purchased 5,500 shares at $8 per share. June 1 Sold 1,000 shares at $12 per share. Sept. 1 Sold 2,000 shares at $10 per share. Dec. 1 Sold 1,000 shares at $7 per share. Martinez Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $31,000. (a) Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2022, for net income. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2022, for net income. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Attempts: 0 of 5 used are the stockholders' equity section for Martinez Corporation at December 31, 2022. (Enter the account name only and ot nrovide the descrintive information nrovided in the auestion.) ion 11 of 13 15 o