Whispering Winds Corporation is authorized to issue 22,500 shares of $50 par value, 10% preferred stock and 130,000 shares of $5 par value common stock. On January 1, 2022, the ledger contained the following stockholders equity balances. Preferred Stock (10,500 shares) $525,000 Paid-in Capital in Excess of ParPreferred Stock 73,500 Common Stock (68,500 shares) 342,500 Paid-in Capital in Excess of ParCommon Stock 700,000 Retained Earnings 310,000 During 2022, the following transactions occurred. Feb. 1 Issued 2,000 shares of preferred stock for land having a fair value of $125,000. Mar. 1 Issued 1,300 shares of preferred stock for cash at $70 per share. July 1 Issued 16,000 shares of common stock for cash at $7 per share. Sept. 1 Issued 400 shares of preferred stock for a patent. The asking price of the patent was $28,000. Market price for the preferred stock was $70 and the fair value for the patent was indeterminable. Dec. 1 Issued 8,000 shares of common stock for cash at $7.50 per share. Dec. 31 Net income for the year was $260,000. No dividends were declared.

B)Enter the beginning balances in the accounts, and post the journal entries to the stockholders equity accounts(Post entries in the order of journal entries presented in the previous part.)

C)Prepare a stockholders equity section at December 31, 2022. Enter the account name only and do not provide the descriptive information provided in the question.)