I need PART C Only

Part A In late 2015, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 6,000,000 shares of common stock carrying a $1 par value, and 2,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2016, 4,000,000 shares of the common stock are issued in exchange for cash at an average price of $15 per share. Also on January 2, all 2,000,000 shares of preferred stock are issued at $20 per share. Required 1. Prepare journal entries to record these transactions. (lf no entry is required for a particular transaction, select "No journal entry required" in the first account field.) view transaction list view general journal Date General Journal Debit Credit January 02 Cash 60,000,000 Common stock 4,000,000 Paid-in capital-excess of par, common 56,000,000 40,000,000 January 02 Cash Preferred stock 10,000,000 Paid-in capital-excess of par, preferred 30,000,000 2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2016. (Assume net income for the first quarter 2016 was $1,800,000.) NICKLAUS CORPORATION Balance Sheet Shareholders' Equity Section March 31, 2016 Shareholders' equity Preferred stock S 10,000,000 4,000,000 Common stock Paid-in capital excess of par 1,800,000 Retained earnings Total shareholders' equity S 15,800,000