The charter for Zoro, Inc., authorizes the company to issue 250,000 shares of $9, no-par preferred stock and 1,350,000 shares of common stock with $1 par value. During its start-up phase, Zoro, Inc. completed the following transactions: (Click on the icon to view the transactions) Read the requirements. Requirement 1. Record the transactions in the journal. (Record debits first, then credits. Exclude explanations from any journal entries.) Apr 6: Issued 500 shares of common stock to the promoters who organized the corporation, receiving cash of $17,000 More info 2018 Apr 6 Issued 500 shares of common stock to the promoters who organized the corporation, receiving cash of $17,000. 12 Issued 800 shares of preferred stock for cash of $27,000. 14 Issued 2,000 shares of common stock in exchange for land with a market value of $22,000. Requirements 1. Record the transactions in the journal. 2. Prepare the stockholders' equity section of Zoro's balance sheet at December 31, 2018. Assume the company earned net income of $34,000 during this period