On January 5, 2020, Teal Corporation received a charter granting the right to issue 5,100 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 51,500 shares of $10 par value common stock. It then completed these transactions. Jan. 11 Feb. 1 Issued 19,400 shares of common stock at $18 per share. Issued to Sanchez Corp. 3,700 shares of preferred stock for the following assets: equipment with a fair value of $49.200; a factory building with a fair value of $156,000; and land with an appraised value of $269,000. Purchased 2,000 shares of common stock at $16 per share. (Use cost method.) Sold the 2.000 treasury shares at $14 per share. Declared a $0.30 per share cash dividend on the common stock and declared the preferred dividend. July 29 Aug. 10 Dec. 31 Dec. 31 Closed the Income Summary account. There was a $168,700 net income. Record the journal entries for the transactions listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record entries in the order displayed in the problem statement. Round answers to decimal places, eg. $5,275.) Date Account Titles and Explanation Debit Credit Jan 11 Cash 349200 Common stock 194000 Paid-in Capital in Excess of Par - Common Stock 155200 b. 1 Equipment 49200 Buildings 156000 Land 269000 Treasury Stock 370000 Paid-in Capital in Excess of Par-Preferred Stock 104200 July 29 Treasury Stock 32000 Cash 32000 ug. 10 Cash 28000 Retained Earnings 4000 Treasury Stock 32000 Dec 31 Retained Earnings 35420 Dividends Payable 35420 Dec 31 Income Summary 168700 Retained Earnings 168700 Prepare the stockholders' equity section of Teal Corporation's balance sheet as of December 31, 2020. (Enter account name only and do not provide descriptive information.) TEAL CORPORATION Stockholders' Equity $