The stockholders' equity accounts of Grouper Corporation on January 1, 2020, were as follows. Preferred Stock (8%, $50 par, 10,000 shares authorized) $ 425,000 Common Stock ($1 stated value, 2,050,000 shares authorized) 1,100,000 Paid-in Capital in Excess of Par-Preferred Stock 115,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,500,000 Retained Earnings 1,750,000 Treasury Stock (10,000 common shares) 40,000 During 2020, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 24,000 shares of common stock for $120,000 Apr. 14 Sold 6,000 shares of treasury stock-common for $32,300. Sept. 3 Issued 4,800 shares of common stock for a patent valued at $34,600. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $5,900. Dec 31 Determined that net income for the year was $400,000. Now No dividends were declared during the year. Date Account Titles and Explanation Debit Crexit