My question is

The stockholders equity accounts of Castle Corporation on January 1, 2017, were as follows.

Preferred Stock (8%, $48par,10,000shares authorized)	$384,000
Common Stock ($1stated value,2,050,000shares authorized)	1,500,000
Paid-in Capital in Excess of ParPreferred Stock	140,000
Paid-in Capital in Excess of Stated ValueCommon Stock	1,450,000
Retained Earnings	1,750,000
Treasury Stock (10,500common shares)	52,500

During 2017, the corporation had the following transactions and events pertaining to its stockholders equity.

Feb.	1	Issued25,000shares of common stock for $124,000.
Apr.	14	Sold6,000shares of treasury stockcommon for $33,700.
Sept.	3	Issued4,900shares of common stock for a patent valued at $35,100.
Nov.	10	Purchased1,100shares of common stock for the treasury at a cost of $5,700.
Dec.	31	Determined that net income for the year was $420,000.

No dividends were declared during the year.

Journalize the transactions and the closing entry for net income.(Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)