Requirements 1. Record the transactions in the journal. 2. Prepare the stockholders' equity section of Zelkin's balance sheet at December 31, 2018. Assume the company earned net income of $38,000 during this period. Print Done 2018 NULLI Apr 6 Issued 250 shares of common stock to the promoters who organized the corporation, receiving cash of $8,500. 12 Issued 550 shares of preferred stock for cash of $28,000. 14 Issued 1,100 shares of common stock in exchange for land with a market value of $23,000. The charter for Zelkin, Inc., authorizes the company to issue 200,000 shares of $3, no-par preferred stock and 900,000 shares of common stock with $1 par value. During its start-up phase, Zelkin, 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 250 shares of common stock to the promoters who organized the corporation, receiving cash of $8,500. Journal Entry Accounts Date Debit Credit Apr The charter for Zelkin, Inc., authorizes the company to issue 200,000 shares of $3, no-par preferred stock and 900,000 shares of common stock with $1 par value. During its start-up phase, Zelkin, Inc. completed the following transactions: (Click on the icon to view the transactions) Read the requirements. Apr 12: Issued 550 shares of preferred stock for cash of $28,000. Journal Entry Date T Accounts Debit Credit Apr Apr 14: Issued 1,100 shares of common stock in exchange for land with a market value of $23,000. Journal Entry Date Accounts Debit Credit Apr Requirement 2. Prepare the stockholders' equity section of Zelkin's balance sheet at December 31, 2018. Assume the company earned net income of $38,000 during this period. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Stockholders' Equity Paid-in capital: Total stockholders' equity