The charter of Magnolia Corporation authorizes the issuance of 1,000 shares of preferred stock and 2,200 shares of common stock During a two-month period, Magnolia completed these stock issuance transactions (Click the icon to view the transactions) Read the requirements Requirement 2. Prepare the stockholders' equity section of the Magnolia balance sheet as of April 30, 2024, for the transactions given in the exercise. Retained Eamings has a balance of $76,000 at April 30, 2024 Magnolia Corporation. Balance Sheet (Partial) Paid-In Capital Total Paid In Capital Total Stockholders Equity April 30, 2024 Stockholders' Equity More info Mar 23 Issued 210 shares of $3 par value common stock for cash of $14 per share Apr. 12 Received inventory with a market value of $23,000 and equipment with a market value of $16,000 for 310 shares off 3 par value common stock Apr. 17 issued 1,000 shares of 7%, $40 par value preferred stock for $40 per share Print Done