The charter of Magnolia Corporation authorizes the issuance of 900 shares of preferred stock and 2,500 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. Earings has a balance of $75,000 at April 30, 2024. Magnolia Corporation Balance Sheet (Partial) April 30, 2024 Stockholders' Equity Paid-In Capital Preferred Stock-7%, $50 Par Value; 900 shares authorized, issued, and outstanding Common Stock-$3 Par Value; 2,500 shares authorized, 610 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity 45,000 610 (1 5) (5