Pronghorn Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock (\$5 par) $550,000, Paidin Capital in Excess of Par-Common Stock $180,000, and Retained Earnings $100,000. In 2022, the company had the following treasury stock transactions. Mar. 1 Purchased 7,000 shares at $8 per share. June 1 Sold 1,500 shares at $13 per share. Sept 1 Sold 1,500 shares at $10 per share. Dec. 1 Sold 1,000 shares at $7 per share. Pronghorn Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $26,000. Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2022, for net income. (Ust all debit entries before credit entries. Record Joumal entries in the order presented in the problem. Credit occount titles are automatically indented when amount is entered. Do not indent manualif) 7500 Paid-in Capital from Treasury Stock 7500 sc, 1v Cash 7000 Paid-in Capital from Treasury Stock Treasury Stock Income Summary 26000 Retained Earmings - 26000 Paid-in Capital from Treasury Stock \begin{tabular}{|ll|} \hline June 1 & 75000 \\ \hline \end{tabular} Sept. 1 Treasury Stock Retained Earnings Dec.31 \begin{tabular}{|} \hline 1111126000 \\ \hline \end{tabular}