The stockholders equity accounts of Larkspur, Inc. on January 1, 2019, were as follows.

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The stockholders' equity accounts of Larspur, Inc. on January 1, 2019, were as follows. Preferred Stock (896, $48 par, cumulative, 11,000 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 (11,000 common shares) $408,000 1,250,000 100,000 1,400,000 55,000 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 6,000 shares of treasury stock-common for $33,900. Sept. 3 Issued 5,200 shares of common stock for a patent valued at $35,000. Nov. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $6,100 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 o automatically indented when amount is entered. Do not indent manually. If no entry is re amounts.) Date Account Titles and Explanation Debit Credit Feb. 1 Apr. 14 Sept. 3 Nov. 10 $ Dec. 31 Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Use T-accounts.) (Po entries presented in the previous part.) Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Paid-in Capital from Treasury Stock Treasury Stock Larkspur, Inc. Balance Sheet (Partial) Balance Sheet (Partial) Additional Paid-in Capital Capital Stock Current Assets Current Liabilities Expenses Intangible Assets Long-term Investments Long-term Liabilities Net Income / (Loss) Paid-in Capital Property, Plant and Equipment Revenues Stockholders' Equity Total Additional Paid-in Capital Total Assets Total Capital Stock Total Current Assets Total Current Liabilities Total Expenses Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital Total Paid-in Capital and Retained Earnings Total Property, Plant and Equipment Total Revenues Total Stockholders' Equity