Problem 12-2 Journalize stock issuances for cash and property, prepare resulting balance sheet (L.). 5) On December 27, 2018, Glade Company was authorized to issue 10,000 shares of $2.50 par value preferred stock and 300,000 shares of $22 par value common stock. It then completed the following transactions in the month of January 2019: Transactions 2019 Jan. 14 Issued 45,000 shares of common stock at $28 per share for cash. 15 Issued 1,000 shares of preferred stock for $50,000. 19 Exchanged 50,000 shares of common stock for the following assets at the indicated fair market values: Land $208,000 Building 540,000 Machinery 740,000 a. Prepare general journal entries to record the transactions. b. Prepare the balance sheet of the company as of January 31, 2019, Required