On January 5, 2020, Wildhorse Corporation received a charter granting the right to issue 5,200 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 51,700 shares of $10 par value common stock. It then completed these transactions.

Jan. 11 Issued 19,800 shares of common stock at $15 per share.

Feb. 1 Issued to Sanchez Corp. 3,900 shares of preferred stock for the following assets: equipment with a fair value of $49,200; a factory building with a fair value of $160,000; and land with an appraised value of $297,000.

July 29 Purchased 1,800 shares of common stock at $19 per share. (Use cost method.)

Aug. 10 Sold the 1,800 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 $163,800 net income.

Part 2 WILDHORSE CORPORATION Stockholders' Equity $ $