List of Accounts Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Allowance for Doubtful Accounts Bad Debts Expense Cash Common Stock Depreciation Expense Equipment Gain on Sale of Stock Income Summary Income Tax Expense Income Tax Payable Insurance Expense Interest Expense Interest Payable Inventory Land Loss on Disposal of Plant Assets No Entry Notes Payable Organization Expense Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Patents 1 Preferred Stock Patents Preferred Stock Prepaid Expenses Prepaid Insurance Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Service Revenue Share Capital-Ordinary Share Capital-Preference Share Premium-Ordinary Share Premium-Preference Supplies Supplies Expense Treasury Stock Unearned Service Revenue Utilities Expense Current Attempt in Progress The stockholders' equity accounts of Flounder Corporation on January 1, 2022, were as follows. Preferred Stock (8%, $48 par, 11,000 shares authorized) $ 408,000 Common Stock ($1 stated value, 1,950,000 shares authorized) 1,250,000 Paid-in Capital in Excess of Par-Preferred Stock 100,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,400,000 Retained Earnings 1,800,000 Treasury Stock (11,000 common shares) 55,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 26,000 shares of common stock for $122,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $33,900. Sept. 3 Issued 5,200 shares of common stock for a patent valued at $35,000. Nov. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $6,100. Dec. 31 Determined that net income for the year was $420,000. No dividends were declared during the year. (b) Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Use J5 for the posting reference) (Post entries in the order of journal entries presented in the previous part) Preferred Stock Date Explanation Ref. Debit Credit Balance Balance Common Stock Date Explanation Ref. Debit Credit Balance Balance V 35 15 Paid-In Capital in Excess of Par-Preferred Stock Explanation Ref. Date Balance Debit Credit Balance V Paid-In Capital in Excess of Stated Value-Common Stock Date Explanation Ref. Balance 35 35 Paid-In Capital from Treasury Stock Date Debit Credit Balance Explanation Ref. Debit Credit Balance 35 Retained Earnings Date Explanation Ref. Debit Credit Balance Balance V 35 Treasury Stock Date Explanation Ref. Debit Credit Balance Balance V eTextbook and Media 35 15 Prepare a stockholders' equity section at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) FLOUNDER CORPORATION Balance Sheet (Partial) eTextbook and Media > > $ $ $ $