The stockholders' equity accouhts of Castle Corporation on January 1, 2017, were as follows Preferred Stock (8%, $50 par, cumulative, 10,000 shares authorized) s 400.000 Common Stock ($1 stated value, 2,000.000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (10.000 common shares) 100,000 450,000 1.816,000 30,000 During 2017, the corporation had the following transactions and events pertaining to its stockholders equity Feb. 1 Issued 25.000 shares of common stock for $120,000 Apr. 14 Sold 6,000 shares of treasury stock-common for $33.000. Sept. 3 Issued 5,000 shares of common stock for a patent valued at $35,000. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $6,000. Dec. 31 Determined that net income for the year was $452.000 No dividends were declared during the year ournalize the transactions and the closing entry for net income. (Record journal entries in the order presented in the problem. Credit account automatically indented when amount is entered. Do not indent manually. amo If no entry is required, select "No Entry" for the account titles and enter 0 for th ounts.) Date Account Titles and Explanation Debit Credit Enter the beginning balances in the accounts, and post the journal entries to the stockhelders equity accounts. (Post entries in the order of journal entries presented in the previous part.) Prelerred Stock Explanation Ref. Date Credit 25 Credit Date Debit Balance us 15 Paid-in Capital from Treasury Stock Explanation Ref Debit Credit Balance Explanation Ref Debit Credit Balance J5 Treasury Stock Date Debit Balance 35 Prepare a stockholders provide the descriptive information provided in the question.) equity section at December 31, 2017, including the disclosure of the preferred dividends in arrears. (Enter the account name only and do not CASTLE CORPORATION Balance Sheet (Partial)