Theo quy con of Corporation on 1,2032 were as follows $384.000 1.500.000 Preferred 45 per 10.000 shares authorized Commons ate 2050.000 shares authorized Pada Capital of Phar-Preferred Stock Capitals of Stated Value-Common Stock 140.000 1,450.000 1.750.000 Retained Thury Stock (10.500 common shares) 52500 During 2032. the corporation had the following transactions and events pertaining to its stockholders equity Feb 1 Sept htud 25.000 shares of common stock tor $124.000 Sold 6.000 shares of treasury stock common for $33.700 Issued 4.900 shares of common stock for patient valued at $35.100 5 Purchased 1.100 shares of common stock for the treasury at a cost of $5,700 Determined that net income for the year was $420,000 NOV 10 Dec 31 No dividench were declared during the year. POV were declared during the year (a) Journalize the tramactions and the closing entry for net income. (List all debit entries before and entries Racord journal entries in e order presented in the problem. Credit account titles are automatically indented when amount is entered Do not ident Account Titles and Explanation Debit Date Cred