Prepare a stockholders' equity section at December 31,2022. (Enter the account name only and do not provide the descriptive information provided in the question.) Journalize the transactions and the closing entry for net income. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Grouper Corporation is authorized to issue 22,000 shares of $50 par value, 10% preferred stock and 125,000 shares of $5 par value common stock. On January 1, 2022, the ledger contained the following stockholders equity balances. During 2022, the following transactions occurred. Feb. 1 Issued 1,900 shares of preferred stock for land having a fair value of $125,000. Mar. 1 Issued 1.000 shares of preferred stock for cash at $70 per share. July 1 Issued 17,000 shares of common stock for cash at $7 per share. Sept. 1 Issued 550 shares of preferred stock for a patent. The asking price of the patent was $31,500. Market price for the preferred stock was $71 and the fair value for the patent was indeterminable. Dec. 1 Issued 8,250 shares of common stock for cash at $7.50 per share. Dec. 31 Net income for the year was $257,000. No dividends were declared, Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Paid-in Capital in Excess of Par-Common Stock Paid-in Capitalin Excess of Par-Proforred Stock 20000 wly 1: Commonstock Paid- in Capital in Excess of Par. Comnon Stock. iept. 1 ; Patents Preferced Stock. Paid-in Capital in Excess of Par. Preferred Stock Sec1 Common Stock Paid-In Capital in Excess or Par-Common Stock Sec 31: incomesummary Retained Earnines 119000 85000 34000 31500 4000 61875 41250 20625 257000