Send to Gradebook Prev Question 7 The stockholders'equity accounts of Wildhorse Co.on January 12019,were as follows. Preferred Stock ( 8%, S 52 par, cumulative, 11,000 shares authorized) Common Stock(S 1stated value, 1,950,000shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock ( 10,000 common shares) $ 442.000 1100,000 100,000 1450,000 1.750,000 40,000 During 2019,the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 26,000 shares of common stock for $ 119,000 Apr. 14 Sold 5,600 shares of treasury stock-common for $ 32.000 Sept 3 Issued 4,700 shares of commonstock for a patent valued at $ 34,300. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of S 5,900. Dec 31 Determined that netincome for the year was $435,000. No dividends were declared during the year. Part 1 Journalize the transactions and the closing entry for net income (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. Ifno entry is required, select '"No Entry for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit Enar the bagnnng balances i, the accounts, and post the ournaamriast0 the stocital darses ty accounts u T accounts. Past er tr es i, the order a journal entries presented in the previous part Preferred Steck Paid-in Capital in Excess of Par Commen Stock Paid-in Capital in Excess of Stated Value-Common Stock Pald-in Capital from Treaaury Stock Treasury Stock Part 3 Prasare a rtociholders qwity sastion at Decmber 31, 2019 includina the dipclasure of tha prefanred dividands in anrears Enter the account name only and do not provide the descriptive information provided in the questionJ Balance Sheet (Partial)