***PLEASE FILL OUT STEP BY STEP*** (REQUIREMENT 1&2)

Pickering Stores is authorized to issue 11,000 shares of common stock. During a two-month period, Pickering completed these stock transactions: (Click the icon to view the transactions.) Read the requirements. PIL Requirement 1. Journalize the transactions. Begin by journalize the transaction on January 23. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Accounts Date Credit Debit 14,000 Data Table Jan 23 Cash 6,000 Common Stock Paid-in Capital in Excess of Par - Common 8,000 Jan Feb 23 Issued 1,000 shares of $6.00 par common stock for cash of $14.00 per share. 12 Received inventory with a market value of $11,000 and equipment with market value of $44.000 for 3,800 shares of the $6.00 par common stock. Next, journalize the transaction on February 12 Journal Entry Accounts Date Credit Debit 11,000 Feb Print Done 12 Inventory Equipment Common Stock 44,000 22,800 32,200 Paid-in Capital in Excess of Par - Common Requirement 2. Prepare the stockholders' equity section of Pickering's balance sheet for the transactions. The company's Retained Earnings account has a balance of $41,000. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Balance Sheet (Partial) Stockholders' Equity Common stock, $ 6.00 par. shares authorized, shares Common stock, Total paid-in capital Retained earnings Total stockholders' equity