The stockholders' equity accounts of Ayayai Corporation on January 1, 2020, were as follows. Preferred Stock (8%, $48 par 10,000 shares authorized) $ 408,000 Common Stock ($1 stated value, 2,100,000 shares authorized) 1,200,000 Paid-in Capital in Excess of Par-Preferred Stock 150,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,500,000 Retained Earnings 1,850,000 Treasury Stock (10,500 common shares) 52,500 During 2020, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb 1 Issued 25,000 shares of common stock for $117,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $33,400. Sept. 3 Issued 4,800 shares of common stock for a patent valued at $35,800. Nov. Purchased 1,000 shares of common stock for the treasury at a cost of $5,700. Dec. 31 Determined that net income for the year was $480,000, 10 Bramble Corporation is authorized to issue 22,000 shares of $50 par value, 10% preferred stock and 130,000 shares of $5 par value common stock. On January 1, 2020, the ledger contained the following stockholders'equity balances. Preferred Stock (12,000 shares) $600,000 Paid-in Capital in Excess of Par-Preferred Stock 69,000 Common Stock (64,000 shares) 320,000 Paid-in Capital in Excess of Par-Common Stock 660,000 Retained Earnings 250,000 During 2020, the following transactions occurred. Feb Mar. July 1 1 1 Sept. 1 Issued 2,100 shares of preferred stock for land having a fair value of $125,000. Issued 1,100 shares of preferred stock for cash at $70 per share. Issued 15,000 shares of common stock for cash at $8 per share. Issued 400 shares of preferred stock for a patent. The asking price of the patent was $29,500. Market price for the preferred stock was $70 and the fair value for the patent was indeterminable. Issued 8,250 shares of common stock for cash at $8.50 per share. Net income for the year was $260,000. No dividends were declared. Dec Dec 1 31 The stockholders' equity accounts of Ayayai Corporation on January 1, 2020, were as follows. Preferred Stock (8%, $48 par 10,000 shares authorized) $ 408,000 Common Stock ($1 stated value, 2,100,000 shares authorized) 1,200,000 Paid-in Capital in Excess of Par-Preferred Stock 150,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,500,000 Retained Earnings 1,850,000 Treasury Stock (10,500 common shares) 52,500 During 2020, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb 1 Issued 25,000 shares of common stock for $117,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $33,400. Sept. 3 Issued 4,800 shares of common stock for a patent valued at $35,800. Nov. Purchased 1,000 shares of common stock for the treasury at a cost of $5,700. Dec. 31 Determined that net income for the year was $480,000, 10 Bramble Corporation is authorized to issue 22,000 shares of $50 par value, 10% preferred stock and 130,000 shares of $5 par value common stock. On January 1, 2020, the ledger contained the following stockholders'equity balances. Preferred Stock (12,000 shares) $600,000 Paid-in Capital in Excess of Par-Preferred Stock 69,000 Common Stock (64,000 shares) 320,000 Paid-in Capital in Excess of Par-Common Stock 660,000 Retained Earnings 250,000 During 2020, the following transactions occurred. Feb Mar. July 1 1 1 Sept. 1 Issued 2,100 shares of preferred stock for land having a fair value of $125,000. Issued 1,100 shares of preferred stock for cash at $70 per share. Issued 15,000 shares of common stock for cash at $8 per share. Issued 400 shares of preferred stock for a patent. The asking price of the patent was $29,500. Market price for the preferred stock was $70 and the fair value for the patent was indeterminable. Issued 8,250 shares of common stock for cash at $8.50 per share. Net income for the year was $260,000. No dividends were declared. Dec Dec 1 31