Stockholders' Equity: Transactions and Balance Sheet Presentation Tunic Corporation was organized on April 1, with an authorization of 25,000 shares of six percent, 350 par value preferred stock and 200,000 shares of 35 par value common stock. During April, the following transactions affecting stockholders equity occurred: Ape. 1 issued 00.000 shares of common stock at 515 chh per share 3 issued 2000 shares of comenon stock to attomeys and promoters in exchange for their services in organizing the corporation. the servces were vatued at si1,000. a issued 3.000 shares of common stock in exchange for equipment with a tar market value of 548.000 . 20 issued 6.000 stares of preferred stock for cash at 555 per stare. Required a. Prepare journal entries to record the above transactions. b. Prepare the stockholders' equity section of the balance sheet at April 30. Assume that the net income for April is $49,000