Prepare the a) Journals and b) Statement of Shareholders' Equity of P13.1A ***DO NOT USE CHAT GPT TO SOLVE WILL REPORT AND DOWN VOTE IF CHAT GPT IS USED*** . See the examples of P13.3A and solve accordingly. Thank You.

Feb. 1 Issued 25,000 shares of common stock for $120,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $33,000. Sept. 3 Issued 5,000 shares of common stock for a patent valued at $35,000. Nov 10 Purchased 1,000 shares of common stock for the treasury at a cost of $6,000. Dec. 31 Determined that net income for the year was $452,000. Statement of Shareholders'Equity \begin{tabular}{|c|c|} \hline Authorised Capital & $ \\ \hline 8% Preferred Stock (10000 shares) & 500000 \\ \hline Common Stock (2000000 shares) & 2000000 \\ \hline Issued Capital & 2500000 \\ \hline 8\% Preferred Stock (8000 shares) & \\ \hline Common Stock (1030000 shares) & 400000 \\ \hline & 1030000 \\ \hline \end{tabular} Paid Up Capital \begin{tabular}{|l|c|} \hline 8\% Preferred Stock (8000 shares) & 400000 \\ \hline Add Paid in Capital - PS & 100000 \\ \hline Common Stock ( 1030000 shares) & 1030000 \\ \hline Add Paid in Capital - CS (1450000+125000) & 1575000 \\ \hline Total Capital Stock and Paid in Capital & 3105000 \\ \hline Retained Earnings & 2268000 \\ \hline Total Paid Up Capital and Retained Earning & 5373000 \\ \hline (-) Treasurey Stock & 50000 \\ \hline (+) Add Paid in Capital-TS & 3000 \\ \hline Toatal Shareholders'Equity & 5326000 \\ \hline \end{tabular} P13.3A (LO 1, 2, 3) The stockholders' equity accounts of Castle Corporation on January 1, 2020, were as follows. During 2020, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 25,000 shares of common stock for $120,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $33,000. Sept. 3 Issued 5,000 shares of common stock for a patent valued at $35,000. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $6,000. Dec. 31 Determined that net income for the year was $452,000. No dividends were declared during the year. P13.1A ( LO 2, 3) DeLong Corporation was organized on January 1, 2020. It is authorized to issue 10,000 shares of 8%,$100 par value preferred stock, and 500,000 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 80,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 5,000 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 24,000 shares of common stock for land. The asking price of the land was $90,000. The fair value of the land was $85,000. May 1 Issued 80,000 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 $30,000 for services performed in helping the company organize. Sept. I Issued 10,000 shares of common stock for cash at $5 per share. Nov. 1 Issued 1,000 shares of preferred stock for cash at $109 per share