*Problem 11-6A (Part Level Submission) r in Corporation has been authorized to issue 20,400 shares of100 par value, 10%, noncumulative preferred stock and 1,160,580 shares of no par common stock. The corporation assigned a $2.90 stated value to the common stock. At December 31, 2015, the ledger contained the following balances pertaining to stockholders' equity S123,000 21,100 1,160,580 Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock1,707,000 Treasury Stock (800 common shares) Paid-in Capital from Treasury Stock Retained Earnings 10,400 400 83,300 The preferred stock was issued for land having a fair value of 5144,100. All common stock issued was for cash. In November, 1,200 shares of common stock were purchased for the treasury at per share cost of $13. In December, 400 shares of treasury stock were sold for $14 per share. No dividends were dedared in 2015 Your answer is correct. Prepare the joumal entries for the: (Credit account tities are automatically indented when amount is entered. Do not indent manually, If no entry is required, select "No entry for the amounts.) for the account titles and enter o (1) Issuance of preferred stock for land. (2) Issuance of common stock for cash (3) Purchase of common treasury stock for cash. (4) Sale of treasury stock for cash. No. Account Titles and Explanation 1. Deblt Credlt 1441001 123000 referred Stock id-in Capital in Excess of Par-Preferred St 206750 2. Ceash ommon Stac 16058 1707000 5600 5600 id-in Capital in Excess of Stated Value-Common Stac 4. id-in Capital from Treasury S Attempts: 1 of 5 used 15600 20 d-in Capital from Treasury Stock Attempts: 1 of 5 used Prepare the stockholders' equity section at December 31, 2015. (Enter the account name only and do not provide the descriptive information provided in the question.) IRWIN CORPORATION Balance Sheet (Partial) December 31, 2015 Attempts: 0 of 5 used