Pharoah Company was organized on January 1, 2019. It is authorized to issue 14,000 shares of 8%, $100 par value preferred stock, and 538,000 shares of no par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year: Jan. 10 Issued 75,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 5.050 shares of preferred stock for cash at $110 per share. Apr. 1 Issued 24,000 shares of common stock for land. The asking price of the land was 592.000. The fair value of the land was $87.500. May 1 Issued 83,500 shares of common stock for cash at $4.50 per share. Aug. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill of $38,000 for services performed in helping the company organize. Sept. 1 Issued 11,000 shares of common stock for cash at 57 per share. Nov. 1 Issued 2,000 shares of preferred stock for cash at $109 per share. Date Account Titles and Explanation Debit Credit Jan 10 Cash 300,000 Common Stock 150,000 Paid-in Capital in Excess of Stated Value-Common Stock 150,000 Mar. 1 Cash 555,500 Preferred Stock 505,000 Paid-in Capital in Excess of Par-Preferred Stock 50,500 Apr. 1 " Land 87.500 Common Stock 48,000 Paid-in Capital in Excess of Stated Value-Common Stock 39,500 May 1 Cash 375.750 Common Stock 167,000 May 1 Cash 375.750 Cash Common Stock 167,000 Paid-in Capital in excess of Stated Value-Common Stock 208,750 Aug. 1 Organization Expense 38,000 Common Stock 20,000 Paid-in Capital in Excess of Stated Value-Common Stock 18,000 Sept. 1 Cash 77.000 Common Stock 22,000 Pald-in Capital in Excess of Stated Value-Common Stock 55.000 Nov. 1 Cash Preferred Stock 200.000 Paid in Capital in Excess of Par. Preferred Stock 18.000 Preferred Stock 1 Mar. 1 Mar. 5 05000 Nov. 1 200000 Dec.31 Bal. 705000 Paid-in Capital in Excess of Par Value-Preferred Stock Mar. 1 50500 Nov. 1 18000 Dec.31 Bal. 68500 Common Stock Jan 10 150000 Apr. 1 48000 May 1 167000 20000 Sept. 22000 Dec.31 Bal. 407000 Paid-in Capital in Excess of Stated Value-Common Stock Jan. 10 150000 Apr. 1 39500 May 1 208750 18000 55000 471250 e Textbook and Media Prepare the paid-in capital section of stockholders' equity at December 31, 2019. (Enter the account name only and do not provide the descripti Pharoah Company Balance Sheet (Partial)