Mendoza Corporation was organized on January 1, 2017. It is authorized to issue 20,000 shares of 6%, exist40 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of exist2 per share. The following stock transactions were completed during the first year. Issued 100,000 shares of common stock for cash at exist3 per share. Issued 10,000 shares of preferred stock for cash at exist55 per share. Issued 25,000 shares of common stock for land. The asking price of the land was exist90,000. The company's estimate of fair value of the land was exist75,000. Issued 75,000 shares of common stock for cash at exist4 per share. Issued 10,000 shares of common stock lo attorneys in payment of their bill for exist50,000 for services performed in helping the company organize. Issued 5,000 shares of common stock for cash at exist6 per share. Issued 2,000 shares of preferred stock for cash at exist60 per share. (a) Journalize the transactions. (b) Post to the stockholders' equity accounts. (Use J1 as the posting reference.) (c) Prepare the paid-in capital section of stockholders' equity at December 31, 2017. Hawthorne Corporation had the following stockholders' equity accounts on January 1, 2017: Common Stock (exist1 par) exist400,000, Paid-in Capital in Excess of Par-Common Stock exist500,000, and Retained Earnings exist100,000. In 2017, the company had the following treasury stock transactions. Purchased 5,000 shares at exist7 per share. Sold 1,000 shares at exist10 per share. Sold 2,000 shares at exist9 per share. Sold 1,000 shares at exist5 per share. Hawthorne Corporation uses the cost method of accounting for treasury stock. In 2017, the company reported net income of exist80,000. (a) Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2017, for net income. (b) Open accounts for (1) Paid-in Capital from Treasury Stock, (2) Treasury Stock, and (3) Retained Earnings. Post to these accounts using J12 as the posting reference. (c) Prepare the stockholders' equity section for Hawthorne Corporation at December 31, 2017