On January 5, 2020, Oriole Corporation received a charter granting the right to issue 5,300 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 52,600 shares of $10 par value common stock. It then completed these transactions.

Jan. 11 Issued 20,800 shares of common stock at $17 per share.

Feb. 1 Issued to Sanchez Corp. 3,700 shares of preferred stock for the following assets: equipment with a fair value of $48,300; a factory building with a fair value of $157,000; and land with an appraised value of $243,000.

July 29 Purchased 2,000 shares of common stock at $18 per share. (Use cost method.)

Aug. 10 Sold the 2,000 treasury shares at $15 per share.

Dec. 31 Declared a $0.50 per share cash dividend on the common stock and declared the preferred dividend.

Dec. 31 Closed the Income Summary account. There was a $192,100 net income.

Record the journal entries for the transactions listed above.

Prepare the stockholders' equity section of Oriole Corporation's balance sheet as of December 31, 2020.