Sep. 6: Issued 250 shares of common stock to the promoters who organized the corporation, receiving cash of $7,500. Date Accounts and Explanation Debit Credit Sep. 6 Cash 7,500 250 Common Stock-$1 Par Value Paid-In Capital in Excess of ParCommon 7,250 Issued common stock for cash. Sep. 12: Issued 450 shares of preferred stock for cash of $21,000. Date Accounts and Explanation Debit Credit Sep. 12 Cash 21,000 Preferred StockNo Par Value 21,000 Sep. 14: Issued 1,700 shares of common stock in exchange for land with a market value of $25,000. Date Accounts and Explanation Debit Credit Sep. 14 Land 25,000 Common Stock-$1 Par Value 1,700 Paid-In Capital in Excess of ParCommon 23,300 Issued common stock for land. Requirement 2. Prepare the stockholders' equity section of the WCAP - TV balance sheet at September 30, 2018, assuming WCAP - TV, Inc. had net income of $39,000 for the month. WCAP-TV, Inc. Balance Sheet (Partial) September 30, 2018 Stockholders' Equity Paid-In Capital: Total Paid-In Capital Total Stockholders' Equity