Prepare the paid-in capital section of stockholders' equity at December 31, 2022.

DeLong Corporation was organized on January 1, 2022. 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 Mar. 1 Apr. 1 May 1 Issued 80,000 shares of common stock for cash at $4 per share. Issued 5,000 shares of preferred stock for cash at $105 per share. 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. Issued 80,000 shares of common stock for cash at $4.50 per share. 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. Issued 10,000 shares of common stock for cash at $5 per share. Issued 1,000 shares of preferred stock for cash at $109 per share. Aug 1 Sept 1 Nov. 1 Journalize the transactions. (Record journal entries in the order presented in the problem. 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.) Date Account Titles and Explanation Debit Credit Jan 10 Cash 320000 Common Stock 160000 Paid In Capitalin Excess of Stated Value Common Stock 150000 Mar 1 Cash 525000 IN Preforred Stock 500000 Paidan Capital of Par Preferred Stock 25000 Apr1 Land 98000 300 common stock Padi Copicains of Stated Value-Comt 02000 May 12 Cash 360000 III Common Stock 1160000 Paid-in Capital in Excess of Stated Value-Common Stock 200000 Aug 1 Organization Expense 30000 Common Stock 20000 Paid in Catalin Excess of Stated value-Common Stock 10000 Septi Cash 50000 Common Stock 20000 Pald-in Capital Excel of State Vice-Common Stock All 30000 Nov. 1 Caso 109000 Preferred Stock 100000 Paldin Cottalin Excess of Pae Preferred Stock 9000 Preferred Stock Mar. 1 500000 Nov. 1 100000 Dec. 31 Bal. 600000 Paid-in Capital in Excess of Par-Preferred Stock Mar. 1 25000 Nov. 1 9000 Dec. 31 Bal. 34000 Common Stock Jan. 10 160000 Apr 1 48000 May 1 . 160000 Aug. 1 . 20000 48000 Apr. 1 May 1 160000 20000 Aug. 1 Sept. 1 20000 Dec. 31 Bal. 408000 Paid-in Capital in Excess of Stated Value-Common Stock Jan. 10 160000 Apr 1 37000 May 1 200000 Aug. 1 10000 IILI Sept. 1 30000 Dec. 31 Bal. 437000 Delong Corporation Balance Sheet (Partial) $