The stockholders' equity accounts of Monty Corporation on January 1, 2022, were as follows. Preferred Stock (8%, $52 par, 10,000 shares authorized) Common Stock ($1 stated value, 1,900,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock $ 390,000 1,100,000 125,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,400,000 Retained Earnings 1,750,000 Treasury Stock (10,000 common shares) 50,000 During 2022, 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 5,900 shares of treasury stock-common for $33,100. Sept. 3 Issued 5,000 shares of common stock for a patent valued at $34,300. Nov. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $6,200. Dec. 31 Determined that net income for the year was $435,000. No dividends were declared during the year. (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.) Preferred Stock Date Explanation Ref. Debit Feb. 1 Balance Common Stock Date Explanation Ref. Debit Feb. 1 Balance J5 J5 Paid-in Capital in Excess of Par-Preferred Stock Date Explanation Ref. Balance Debit 124000 Paid-in Capital in Excess of Stated Value-Common Stock Date Explanation Ref. Dec. 31 Balance J5 J5 Paid-in Capital from Treasury Stock Date Explanation Ref. J5 Debit Credit Balance Credit Balance Credit Balance Credit Balance Debit Credit Balance Retained Earnings Date Explanation Ref. Debit Credit Balance Balance J5 Treasury Stock Date Explanation Ref. Debit Credit Balance Balance J5 J5 (c) Prepare a stockholders' equity section at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) : MONTY CORPORATION Balance Sheet (Partial) $ $ $ $