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On January 5, 2020, Wildhorse Corporation received a charter granting the right to Issue 4,600 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 53,300 shares of $10 par value common stock. It then completed these transactions. Jan. 11 Feb. 1 July 29 Issued 20,400 shares of common stock at $17 per share. Issued to Sanchez Corp. 4,200 shares of preferred stock for the following assets: equipment with a fair value of $45.200; a factory building with a fair value of $172,000; and land with an appraised value of $262.000. Purchased 2,000 shares of common stock at $18 per share. (Use cost method.) Sold the 2.000 treasury shares at $15 per share. Declared a $0.25 per share cash dividend on the common stock and declared the preferred dividend. Closed the Income Summary account. There was a $163,500 net income. Aug. 10 Dec. 31 Dec. 31 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 0 decimal places, c.s. $5,275.) Date Account Titles and Explanation Debit Jan 11 Cash 346800 Common Stock Pald-in Capital in Excess of Par - Common St Feb. 1 Equipment 45200 Buildings 172000 Land 26 2000 Preferred Stock Paid in Capital in Excess of Par Preferred St July 29 Treasury Stock 36000 Cash Aug. 10 Cash 30000 Retained Earnings 6000 Treasury Stock Dec 31 Ratained Earnings 38700 Dividends Payable Dec 31 Income Summary 163500 Retained Earnings 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 O decimal places, e.g. $5.275.) ount Titles and Explanation Debit Credit 346800 Common Stock 204000 Paid-in Capitalin Excess of Par - Common St 142800 ent 45200 uildings 172000 ind 262000 Preferred Stock 420000 Paid in Capital in Excess of Par. Preferred St 59200 cury Stock 36000 36000 30000 bined Emines 6000 Dressury Stock 36000 bedrine 38700 Dividends Pave 38700 163500 bed Earrings 163500 Prepare the stockholders' equity section of Wildhorse Corporation's balance sheet as of December 31, 2020, (Enter account name only and do not provide descriptive information.) WILDHORSE CORPORATION Stockholders' Equity For the Year Ended December 31, 2020 Capital Stock Attempts: 0 of 1 used Submit Answer Save for Later