The stockholders' equity accounts of Skysong, Inc. on Jan 1, 2022, are as follows: Preferred stock (8%, $50 par, cumulative, 10,500 shares authorized) $400,000. Common Stock ($1 stated value, 1,900,000 shares authorized) $1,250,000. Paid-in capital in excess of par- Preferred Stock $135,000. Paid-in capital in excess of stated value- Common Stock $1,400,000. Retained earning $1,800,000. Treasury Stock (10,500 common shares) $52,500. During 2022, the corporation had the following transaction and events pertaining to its stockholders equity.

Feb. 1 Issued 25,000 shares of common stock for $121,000

Apr. 14 Sold 6,000 shares of treasury stock- common for $32,800.

Sept. 3 Issued 5,000 shares of common stock for a patent valued at $34,200.

Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,900.

Dec 31 Determined that the net income for the year was $410,000.

No dividends were declared during the year.

Journalize the transactions and closing entry for net income.