Whispering Winds Corporation had the following stockholders' equity accounts on January 1, 2020: Common Stock ($4 par) $400,000, Paid-in Capital in Excess of Par-Common Stock $185,000, and Retained Earnings $110,000. In 2020, the company had the following treasury stock transactions. Mar. 1 Purchased 6,500 shares at $8 per share. June 1 Sold 1,500 shares at $13 per share Sept.1 Sold 2,000 shares at $11 per share Dec. 1 Sold 1,500 shares at $6 per share Whispering Winds Corporation uses the cost method of accounting for treasury stock. In 2020, the company reported net income of $34,000 Your answer is correct. Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2020, 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.) Date Account Titles and Explanation Debit Credit Mar. 1 ! Treasury Stock 52000 Cash 52000 June 1 # Cash 19500 Treasury Stock 12000 Paid-in Capital from Treasury Stock 7500 22000 Sept. 1 | Cash Treasury Stock 16000 Paid-in Capital from Treasury Stock 6000 Dec. 1 Cash 9000 Paid-in Capital from Treasury Stock 3000 Treasury Stock 12000 Dec. 31:| |Income Summary 34000 Retained Earnings 34000 LINK TO TEXT LINK TO TEXT X Your answer is incorrect. Try again. Open accounts for Paid-in Capital from Treasury Stock, Treasury Stock, and Retained Earnings. (Post entries in the order of Journal entries presented In the previous part.) Paid-in Capital from Treasury Stock Treasury Stock Retained Earnings Prepare the stockholders' equity section for Whispering Winds Corporation at December 31, 2020. (Enter the account name only and do not provide the descriptive information provided in the question.) WHISPERING WINDS CORPORATION Balance Sheet (Partial) December 31, 2020 Current Assets Click if you would like to show Work for this question: Open Show Work