The stockholders' equity accounts of Riverbed Corporation on January $1,2027,$ were as follows.

During $2027,$ 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 $5,700$ shares of treasury stock $-$ common for $$33,700.$

Sept. $3$ Issued $5,100$ shares of common stock for a patent valued at $$34,700.$

Nov. $10$ Purchased $1,000$ shares of common stock for the treasury at a cost of $$5,700.$

Dec. $31$ Determined that net income for the year was $$480,000.$

No dividends were declared during the year.

journalize the transactions and the closing entry for net income.