Requirement 2. Prepare the stockholders' equity section of Zeffer's balance sheet at December 31, 2018. Assume the company earned net income of $33,000 during this period. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Stockholders' Equity Paid-in capital: Preferred stock, $2, no-par, DI Common stock, $1 par, Paid-in capital in excess of par-common Total paid-in capital Retained earnings 33000 Total stockholders' equity Choose from any list or enter any number in the input fields and then click Check Answer. The charter for Zeffer, Inc., authorizes the company to issue 400,000 shares of $2, no-par preferred stock and 1,300,000 shares common stock with $1 par value. During its start-up phase, Zeffer, Inc. completed the following transactions: (Click on the icon to view the transactions) Read the requirements. Requirement 1. Record the transactions in the journal. (Record debits first, then credits. Exclude explanations from any journal entries.) Apr 6: Issued 550 shares of common stock to the promoters who organized the corporation, receiving cash of $18,700. Debit Credit Date Apr Journal Entry Accounts 6 Cash Common stock Paid-in capital in excess of par-common 18,700 550 18,150 Apr 12: Issued 600 shares of preferred stock for cash of $21,000. Journal Entry Date Accounts Debit Credit Apr 21,000 12 Cash Preferred stock 21,000 Apr 14: Issued 900 shares of common stock in exchange for land with a market value of $26,000. Journal Entry Date Accounts Debit Credit Apr 26,000 14 Land Common stock 900 Paid-in capital in excess of par-common 25,100