Martinez Comp. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporation's capital stock 104,000 104,000 May 2 Cash Capital Stock (issued 8.000 shares of $11 par value common stock at $13 per share) 10 Cash Capital Stock (Issued 15,000 shares of $16 par value preferred stock at $54 per share) 15 Capital Stock 810,000 810,000 8,060 8,060 (Purchased 620 shares of common stock for the treasury at $13 per share) On the basis of the explanation for each entry prepare the entries that should have been made for the capital stock transactions. (Record journal entries in the order presented in the problem. C itacent titles are automatically indented when amount is enter. Do not indent mally. If no entry is required, select "No Entry for the count tires and enter for the amounts) Date Account Titles and Explanation Debit Credit May 2 May 10 V xercise 11-14 The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Sarasota Corp. at December 31, 2022. Common Stock ($2 stated value) $2,400,000 Paid-in Capital in Excess of Par Value-Preferred Stock 67,500 Paid-in Capital in Excess of Stated Value-Common Stock 1,575,000 Preferred Stock (5%, $100 par, noncumulative) 900,000 Retained Earnings 2,001,000 Treasury Stock (18,000 common shares) 108,000 Prepare the stockholders' equity section of the balance sheet at December 31, 2022. (Enter account name only and do not provi SARASOTA CORP Partial Balance Sheet