The stockholders equity accounts of Bramble Corporation on January 1, 2020, were as follows.

Preferred Stock (8%, $48 par, 10,000 shares authorized)		$ 384,000
Common Stock ($1 stated value, 2,050,000 shares authorized)		1,500,000
Paid-in Capital in Excess of ParPreferred Stock		140,000
Paid-in Capital in Excess of Stated ValueCommon Stock		1,450,000
Retained Earnings		1,750,000
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 $124,000.
Apr.	14		Sold 6,000 shares of treasury stockcommon for $33,700.
Sept.	3		Issued 4,900 shares of common stock for a patent valued at $35,100.
Nov.	10		Purchased 1,100 shares of common stock for the treasury at a cost of $5,700.
Dec.	31		Determined that net income for the year was $420,000.

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.)

b. Enter the beginning balances in the accounts, and post the journal entries to the stockholders equity accounts. (Use J5 for the posting reference.) (Post entries in the order of journal entries presented in the previous part.)

c. Prepare a stockholders equity section at December 31, 2020. (Enter the account name only and do not provide the descriptive information provided in the question.)