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 ParPreferred Stock		150,000
Paid-in Capital in Excess of Stated ValueCommon 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 stockcommon for $33,400.
Sept.	3		Issued 4,800 shares of common stock for a patent valued at $35,800.
Nov.	10		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.

Prepare a stockholders equity section at December 31, 2020

Question 1 of 4 0.65/1 te Account Titles and Explanation Debit Credit eb. 1 Cash 117,000 Common Stock 25000 Paid-in Capital in Excess of Stated Value-Common Stock 92000 Apr. 14 Cash 33400 Treasury Stock 30000 Paid-in Capital from Treasury Stock 3400 jept. 3 Patents 35800 Common Stock 4800 Paid-in Capital in Excess of Stated Value-Common Stock 31000 Nov. 10 Treasury Stock 5700 Cash 5700 Dec. 31 Income Summary 480000 Retained Earnings 480000 Preferred Stock Date Explanation Ref. Debit Credit Balance Jan. 1 Balance 408,000 Common Stock Date Explanation Ref. Debit Credit Balance Jan. 1 Balance 1,200,000 Feb. 1 15 25000 1225000 Sept. 3 J5 4800 1229800 Paid-in Capital in Excess of Par-Preferred Stock Date Explanation Ref. Debit Credit Balance Jan. 1 Balance 150,000 Paid-in Capital in Excess of Stated Value-Common Stock Date Explanation Ref. Debit Credit Balance Jan. 1 Balance 1,500,000 Feb. 1 25 92000 1592000 Sept. 3 15 31000 1623000 Paid-in Capital from Treasury Stock Date Explanation Ref. Debit Credit Balance Apr. 14 15 3400 3400 Dotood En Paid-in Capital from Treasury Stock Date Explanation Ref. Debit Credit Balance Apr. 14 25 3400 3400 Retained Earnings Date Explanation Ref. Debit Credit Balance Jan. 1 Balance 1,850,000 Dec. 31 J5 480000 2330000 Treasury Stock Date Explanation Ref. Debit Credit Balance Jan. 1 Balance 52,500 Apr. 14 35 30000 22500 Nov. 10 J5 5700 28200 e Textbook and Media List of Accounts Attempts: 3 of 3 used (c) Question 1 of 4 0.67/1 AYAYAI CORPORATION Balance Sheet (Partial) December 31, 2020 Paid-in Capital Capital Stock $ $ $ Question 1 of 4