The stockholders' equity accounts of Kingbird, Inc. on January 1, 2022, were as follows. During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 24,000 shares of common stock for \\( \\$ 124,000 \\). Apr. 14 Sold 5,600 shares of treasury stock-common for \\( \\$ 32,300 \\). Sept. 3 Issued 4,900 shares of common stock for a patent valued at \\( \\$ 35,700 \\). Nov. 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 \\( \\$ 445,000 \\). 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. If no entry is required, select \"No Entry\" for the account titles and enter 0 for the amounts.)