The stockholders' equity accounts of Bramble Corp. on January 1, 2019, were as follows. $ 442,000 1,350,000 Preferred Stock (8%, $52 par, cumulative, 10,000 shares authorized) Common Stock ($1 stated value, 1,950,000 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) 115,000 1,400,000 1,750,000 52,500 During 2019, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 26,000 shares of common stock for $122,000. Apr. 14 Sold 5,700 shares of treasury stock-common for $32,700. Sept. 3 Issued 5,100 shares of common stock for a patent valued at $36.000 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 $485,000. No dividends were declared during the year. (a) Your answer is partially correct. Try again. 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 o for the amounts.) Credit Date Feb. 1 Account Titles and Explanation Cash Debit 122000 Common Stock 26000 Paid-in Capital in Excess of Stated