Pringle Corporation has been authorized to issue 23,700 shares of $100 par value, 9%, noncumulative preferred stock and 1,145,700 shares of no-par common stock. The corporation assigned a $4 stated value to the common stock. At December 31, 2014, the ledger contained the following balances pertaining to stockholders equity.

Preferred Stock		$169,900
Paid-in Capital in Excess of Par ValuePreferred Stock		22,650
Common Stock		2,290,000
Paid-in Capital in Excess of Stated ValueCommon Stock		1,567,000
Treasury Stock (5,700 common shares)		68,400
Retained Earnings		83,200

The preferred stock was issued for $192,550 cash. All common stock issued was for cash. In November 5,700 shares of common stock were purchased for the treasury at a per share cost of $12. No dividends were declared in 2014.

Prepare the journal entries for the following.

(1)Issuance of preferred stock for cash.

(2)Issuance of common stock for cash.

(3)Purchase of common treasury stock for cash.

Prepare the stockholders equity section of the balance sheet at December 31, 2014.