how Attempt History Current Attempt in Progress On January 5, 2020, Blue Corporation received a charter granting the right to issue 5,200 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 51,700 shares of $10 par value common stock. It then completed these transactions Jan. 11 Feb. 1 July 29 Aug. 10 Dec. 31 Dec. 31 Issued 19,800 shares of common stock at $15 per share. Issued to Sanchez Corp. 3,900 shares of preferred stock for the following assets: equipment with a fair value of $49.200; a factory building with a fair value of $160,000; and land with an appraised value of $297,000. Purchased 1,800 shares of common stock at $19 per share. (Use cost method.) Sold the 1,800 treasury shares at $15 per share, Declared a $0,50 per share cash dividend on the common stock and declared the preferred dividend. Closed the Income Summary account. There was a $163,800 net income. (a) Your answer is correct. Record the journal entries for the transactions listed above. (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. Record entries in the order displayed in the problem statement. Round answers to decimal places, es $5,275) Account Titles and Explanation Debit Credit Date an 11 Cash 297.000 Paid-in Capital in Excess of Par - Common Stock 99.000 MacBook Pro estion 4 of 5 entries in the order displayed in the problem statement. Round answers to decimal places, eg $5,275.) Credit Debit Date Account Titles and Explanation 297.000 an 11 Cash 99,000 Paid in Capital in Excess of Par - Common Stock 198,000 Common Stock 297.000 .1 Land 160,000 Buildings 49.200 Equipment 116200 Paid-in Capital in Excess of Par - Preferred Stock 390,000 Preferred Stock 34200 uly 29 Treasury Stock 34200 Cash 27000 10 Cash 7200 Retained Earnings 34200 Treasury Stock 41100 Sec. 31 Retained Earnings 41100 Dividends Payable 163800 Sec. 31 Income Summary 163800 Retaired Earnings 12.5/25 E > Question 4 of 5 Prepare the stockholders' equity section of Blue Corporation's balance sheet as of December 31, 2020. (Enter account name only and do not provide descriptive information.) BLUE CORPORATION Stockholders' Equity $ $ e Textbook and Media List of Arrints