The stockholders' equity accounts of Pronghorn Corporation on January 1, 2020, were as follows. Preferred Stock (8%, $52 par, 10,000 shares authorized) Common Stock ($1 stated value, 2.000.000 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) $390,000 1.300.000 105,000 1,500,000 1.800.000 44,000 During 2020, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Apr. 14 Issued 24,000 shares of common stock for $124,000. Sold 5,500 shares of treasury stock-common for $33,400 Sept. 3 Nov. 10 Dec. 31 Issued 4,900 shares of common stock for a patent valued at $34,000. Purchased 1,100 shares of common stock for the treasury at a cost of $6,100. Determined that net income for the year was $435.000 No dividends were declared during the year.