Problem 11-3A (Part Level Submission) The stockholders' cquity accounts of Castle Corporation on January 1, 2015, were as follows. Preferred Stock (896, S52 par, cumulative, 10,800 shares authorized) Common Stock (S1 stated value, 1,993,100 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (11,000 common shares) 395,200 1,192,300 109,900 1,426,900 1,828,200 55,000 During 2015, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 25,500 shares of cammon stock for $118,300 Apr. 14 Sold 6,000 shares of treasury stock-common for 533,000 Sept. 3 Issued 5,100 shares of common stock for a patent valued at 535,500 Nov. 10 purchased 1,000 shares of common stock for the treasury at a cost of 6,200 Dec. 31 Determined that net income for the year was $414,300. No dividends were declared during the year Your answer is correct ournalize the transactions and the dosing entry for net income. (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 0 for the amounts.) Date Account Titles and Explanation Debit Credit P8309 Feb. id-in Capital in Excess of Stated value-Common Sto 280 ommon St 550 @ 'b Apr. 14 cas easury Stac id-in Capital from Treasury Stoc Sept. 3 Paten id-in Capital in Excess of Stated value-Common Sto ommon St Nov. 1 asury Stoc Cash Dec. 31 uncome Summ ned Earnin 1430 Your answer is correct. Enter the beginning balances in the accounts, and post the journal entries to the stockholders equity accounts. (Use J5 for the posting reference.) (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Date Explanation Ref Debit CreditBalance Jan. 1 95200 Common Stock Date Explanation Ref Deblt Credit Balance Balance 19230 15 eb. 1 5500 21780 1001 222900 Paid-in Capital in Excess of Stock Date Explanation Ref Debit CreditBalance an. 1 Balnce Date Explanation Ref Debit CreditBalance 09900 Pald-In Capltal In Excess of Stated Value Common Stock 15 28001 1519700 s 704001 5501001 ept Paid-in Capital from Treasury Stock Date Explanation Ref Debit Credit Balance Retained Earnings Date Explanation Ref Debit CreditBalance 826200 Balance 82820 ec. 31 1430 24250 Treasury Stock Date Explanation Ref Debit Credit Balance an. Ealance 500 s200001 T25000 15 20031200 ov. 1 Attempts: 3 of 5 used 1 Balance 200001 125000 i5 ov. 1 Attempts: 3 of 5 used Prepare a stockholders'equity soction at December 31, 2015, including the disclosure of the preferred dividends in arrears. (Enter the account name only and do not provide the descriptive information provided in the question.) CASTLE CORPORATION Balance Sheet (Partial) December 31, 2015 Attempts: 0 of 5 used