The stockholders' equity accounts of Castle Corporation on January 1, 2020, were as follows. Preferred Stock (8%, $50 par, 10,000 shares authorized) $ 400,000 Common Stock ($1 stated value, 2,000,000 shares authorized) 1,000,000 Paid-in Capital in Excess of Par-Preferred Stock 100,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,450,000 Retained Earnings 1,816,000 Treasury Stock (10,000 common shares) 50,000 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 $120,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $33,000. Sept. 3 Issued 5,000 shares of common stock for a patent valued at $35,000. 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 $452,000. No dividends were declared during the year. Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Use 35 for the posting reference.) (Post entries in order of journal entries presented in the previous part.) Preferred Stock Date Explanation Rer. Debit Credit Balance Balance Common Stock Date Explanation Ref. Debit Credit Balance Balance 35 35 Credit Balance Pald-In Capital in Excess of Par-Preferred Stock Date Explanation Ref. Debit 6 Balance code Balance Pald-in Capital In Excess of Stated Value-Common Stock Date Explanation Ref. Debit Credit Balance 35 OS Pald-in Capital from Treasury Stock Date Explanation Ref. Debit Credit Balance 35 TO Prepare a stockholders' equity section at December 31, 2020. (Enter the account name only and do not prov question.) CASTLE CORPORATION Balance Sheet (Partial) + + 4 4 THE TIE TUU%