Pronghorn Corp. was organized on January 1, 2022. It is authorized to issue 19,800 shares of 7%, $50 par value preferred stock and 462,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 71,000 shares of common stock for cash at $5 per share. Mar. 1 Issued 1,220 shares of preferred stock for cash at $56 per share. May 1 Issued 116,000 shares of common stock for cash at $8 per share. Sept. 1 Issued 5,200 shares of common stock for cash at $6 per share. Nov. 1 Issued 3,200 shares of preferred stock for cash at $58 per share.

Journalize the transactions.

Post to the stockholders equity accounts.

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