Issuing stock at par for cash and noncash assets, issuing stock at a premium, and preparing corporate balance sheet. [ Objectives 20-6, [ 20-7, [ 209 Travel Inc., a new corporation, took over the assets and liabilities of Worldwide Travel Agency, owned by Roma James, on June 1, 20X1. The assets and liabilities assumed, after appropriate revaluation by Worldwide Travel Agency, are as follows (amounts in parentheses are credits; others are debits): The corporation is authorized to issue 100,000 shares of no-par-value common stock with a stated value of $10 per share and 20,000 shares of $100 par-value preferred stock. The preferred stock bears a dividend of $5 per share per year. The transactions entered into at the time the corporation was formed follow. INSTRUCTIONS 1. Prepare the general journal entries to record the transactions. 2. Prepare the opening balance sheet as of June 1, 20X1, for Travel Inc. Analyze: What is the amount of total stockholders' equity at end of day June 1,201