requirement 2 needed

The charter of Holly Corporation authorizes the issuance of 1,000 shares of preferred stock and 1,500 shares of common stock. During a two-month period, Holly completed these stock-issuance transactions: (1) (Click the icon to view the transactions.) More info Mar. 23 Issued 240 shares of $4 par value common stock for cash of $19 per share. Apr. 12 Received inventory with a market value of $23,000 and equipment with a market value of $20,000 for 340 shares of the $4 par value common stock. Apr. 17 issued 1,000 shares of 6%,$40 par value prelerred stock for $40 per share. Requirements 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of the Holly balance sheet as of April 30, 2024, for the transactions given in this exercise. Retained Eamings has a balance of $76,000 at April 30, 2024 . Holly Corporation Balance Sheet (Partial) April 30, 2024 Stockhoiders' Equity Paid-In Capital: Common Stock-\$4 Par Value; Paid-In Capital in Excess of Par-Common 47640 Preferred Stock-6\%, \$40 Par Value: Total Paid-In Capital Retained Earnings Total Stockholders' Equity