Tunic Corporation was organized on April 1, with an authorization of 25,000 shares of six percent. $50 par value preferred stock and 200,000 shares of $5 par value common stock. During April, the following transactions affecting stockholders' equity occurred: Issued 80,000 shares of common stock at $20 cash per share. Issued 20,000 shares of common stock to attorneys and promoters in exchange for their services in organizing the corporation. The services were valued at $31,000. Issued 3,000 shares of common stock in exchange for equipment with fair market values of $55,000. Issued 80,000 shares of preferred stock for cash $60 per share. Prepare journal entries to record the above transactions. Prepare the stockholders' equity section of the balance sheet at April 30. Assume that the net income for April is $51,000