The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2022, were as follows. $ 400,000 1,000,000 120,000 Preferred Stock (8%, $50 par, cumulative, 11,000 shares authorized) Common Stock ($1 stated value. 2.050.000 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 (10,500 common shares) 1,400,000 1,750,000 42,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Apr. 14 Sept. 3 Issued 25,500 shares of common stock for $115,000. Sold 5,700 shares of treasury stock-common for $33,200. Issued 5,200 shares of common stock for a patent valued at $35,000. Purchased 1,000 shares of common stock for the treasury at a cost of $6,100. Determined that net income for the year was $405,000. Nov. 10 Dec. 31 No dividends were declared during the year. Journalize the transactions and the closing entry for net income. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Date Account Titles and Explanation Debit Credit Feb. 1 Cash 115.000 Common Stock 25,500 Paid-in Capital in Excess of Par-Common Stock 89,500 Apr. 14 Cash 33,200 Treasury Stock 22,800 Paid-in Capital from Treasury Stock 10,400 Sept. 3 Income Summary 405.000 Retained Earnings 405,000 - Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Jan. 1 Bal. Dec. 31 Bal. Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock