The stockholders' equity accounts of Whispering Winds Corp. on January 1, 2020, were as follows. Preferred Stock (8%, $52 par, cumulative, 11,000 shares authorized) $ 416,000 Common Stock ($1 stated value, 1,900,000 shares authorized) 1,300,000 Paid-in Capital in Excess of Par-Preferred Stock 120.000 Paid-in Capital in Excess of Stated Value-Common Stock 1.450,000 Retained Earnings 1,800,000 Treasury Stock (10,500 common shares) 52.500 Feb During 2020, the corporation had the following transactions and events pertaining to its stockholders' equity. 1 Issued 25,500 shares of common stock for $118,000. Apr. 14 Sold 5,800 shares of treasury stock-common for $33,000 Sept. 3 Issued 5,000 shares of common stock for a patent valued at $35, 100, Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $5,800. Dec. 31 Determined that net income for the year was $485,000, No dividends were declared during the year. Journalize the transactions and the closing entry for net income. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Feb. 10 Cash 118.000 Common Stock 25.500 Paid-in Capital in Excess of Stated Value-Common Stock 92500 Apr. 14 Cash 33.000 Treasury Stock Paid-in Capital from Treasury Stock Sept. 30 Patents Common Stock Paldin Capital in Excess of Stated Value-Common Stock Nov. 10 Treasury Stock Cash Dec 31 Income Summary Retained Earnings Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Use Taccounts.) (Post entries in the order of journal entries presented in the previous port) Preferred Stock Jan. 1 Bal : Dec. 31 Bal : Paid-in Capital in Excess of Par Value-Preferred Stock Jan 1 Balo Dec. 31 Bal : Common Stock Jan. 1 Bal. Feb. 1 . Sep 3 . Dec. 31 Bal. Paid-in Capital in Excess of Stated Value-Common Stock Jan. 1 Bal. Feb. 1 . Sep. 3 4) Dec 31 Balo Feb. 1 Sep 3 Dec. 31 Bale Retained Earnings Jan. 1 Bal.. Dec. 31 . Dec. 31 Balo Pald-in Capital from Treasury Stock Apr. 14 Dec 31 Bal : Treasury Stock Jan 1 Bal Apr. 14 Nov. 10 : Dec 31 Bal. Prepare a stockholders' equity section at December 31, 2020, including the disclosure of the preferred dividends in arrears. (Enter the account name only and do not provide the descriptive Information provided in the question) Whispering Winds Corp. Balance Sheet (Partial) December 31, 2020 Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock Common Stock Total Capital Stock Additional Paid in Capital Paid In Capital in Excess of Par-Preferred Stock $ Paid-in Capital in Excess of Stated Value-Common Stock Pald-in Capital from Treasury Stock Total Additional Paid-in Capital Total Pald-in Capital Retained Earnings Total Pald-in Capital and Retained Earnings Less Treasury Stock Total Stockholders' Equity