The charter for WCAP-TV, Inc. authorizes the company to issue 100,000 shares of S3, no-par preferred stock and 500.000 shares of common stock with $1 par value. During its start-up pha following transactions (Click on the icon to view the transactions) Read the requirements Sep. o was Common Stocks1 Par Value 200 Paid-in Capital in Excess of ParCommon 5.800 Issued common stock for cash. Date Debit Credit Sep. 12: Issued 350 shares of preferred stock for cash of S30,000 Accounts and Explanation Sep. 12 Cash Preferred StockNo Par Value 30,000 30,000 Date Debit Credit issued preferred stock for cash. Sep. 14: Issued 1,700 shares of common stock in exchange for land with a market value of $22.000 Accounts and Explanation Sep. 14 Common Stock-$1 Par Value Paid-in Capital in Excess of ParCommon Land 22.000 1,700 20.300 issued common stock for land. Requirement 2. Prepare the stockholders' equity section of the WCAP-TV balance sheet at September 30, 2024, assuming WCAP-TV, Inc. had net income of $40,000 for the month. WCAP-TV, Inc. Balance Sheet (Partial) September 30, 2024 Stockholders' Equity Paid-In Capital: Total Paid-In Capital Total Stockholders' Equity Choose from any list or enter any number in the input fields and then click Check