Question 11 of 15 - / 25 View Policies Current Attempt in Progress Pronghorn Corporation was organized on January 1, 2022. It is authorized to issue 11,000 shares of 8%, $100 par value preferred stock, and 498,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 75,500 shares of common stock for cash at $4 per share. Mar. 1 Issued 5,550 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 24,500 shares of common stock for land. The asking price of the land was $85,500. The fair value of the land was $85,500. May 1 Aug. 1 Issued 75,500 shares of common stock for cash at $4.75 per share. Issued 11,500 shares of common stock to attorneys in payment of their bill of $40,000 for services performed in helping the company organize. Issued 11,000 shares of common stock for cash at $7 per share. Issued 2,500 shares of preferred stock for cash at $108 per share. Sept. 1 Nov. 1 Date Account Titles and Explanation Debit Cred * A Preferred Stock Common Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock 4 4 Prepare the paid-in capital section of stockholders' equity at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) PRONGHORN CORPORATION Balance Sheet (Partial) 4 $ $ $ Save for Later Attempts: 0 of 4 used Submit