Splish Brothers Inc. was organized on January 1, 2019. It is authorized to issue 11,000 shares of 8%, $100 par value preferred stock, and 524,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year: Jan. 10 Mar. 1 Apr. 1 1 May Aug. Issued 83,000 shares of common stock for cash at $4 per share. Issued 4,600 shares of preferred stock for cash at $110 per share. Issued 23,000 shares of common stock for land. The asking price of the land was $89,500. The fair value of the land was $86,000. Issued 81,000 shares of common stock for cash at $5.00 per share. Issued 10,500 shares of common stock to attorneys in payment of their bill of $42,000 for services performed in helping the company organize. Issued 10,500 shares of common stock for cash at $5 per share. Issued 3,000 shares of preferred stock for cash at $112 per share. 1 1 Sept. Nov. 1 Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) te Account Titles and Explanation Debit Credit Jan. 10 Cash 332000 Common Stock 166000 Paid-in Capital in Excess of Stated Value-Common Stock 166000 Mar. 1 Cash 506000 Preferred Stock 460000 Paid-in Capital in Excess of Par-Preferred Stock 46000 Apr. 1 Land 86000 Common Stock 46000 Paid-in Capital in Excess of Stated Value-Common Stock 20000 May 1 Cash 405000 Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Mar. 1 46000 Nov.1 300000 Dec.31 Bal. 346000 Paid-in Capital in Excess of Par Value-Preferred Stock Mar. 1 46000 Nov. 1 36000 Dec.31 Bal. 82000 Common Stock Jan. 10 166000 Apr. 1 46000 May 1 162000 Aug. 1 21000 Sept. 1 21000 Dec.31 Bal. 416000 Paid-in Capital in Excess of Stated Value-Common Stock Jan. 10 166000 Apr. 1