Stockholders' Equity. Transactions and Balance Sheet. Presentation Tunic Corporation was organited on April 1, with an authorization of 25,000 shares of six percent, 550 par value preferred stock and 200,000 shares of 55 par value common stock. During Aprib, the following transactions affecting stockholders equify occurred: Nar. I isoued stooo shaies of tammen Mock at 515 cash per share. Issued 6000 ahures of common stock to attomers and promotes in exchange for their services in orzanizing the corporation, the services were valued at 536000 . is tued 3000 sheres of comman usock in exthange for equipment wish a fair market value of 352,000 , 20 issued 10,000 stures of preferred wod for cash at 560 per thare. 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