BusinessCourse fall 23 semester - Google Sheets Course Content / Homework Assignments / Homework 12 July 15 Issued 3,500 shares of preferred stock in exchange for equipment with a fair market v. Nov. 15 Sold 1,000 of the treasury shares acquired January 23 for $24 per share. Dec. 31 Closed the net income of $59,000 to the Retained Earnings account. Journal Entries T-Accounts tab Required Prepare journal entries to record the foregoing transactions and post to T-accounts. Do r Determine the ending balances for the stockholders' equity accounts. Prepare the December 31 stockholders' equity section of the balance sheet: Do not use negative signs with your answers. Total Paid-in-Capital Retained Earnings Paid in Capital Preferred Stock Common Stock Additional Paid-in-Capital Paid-in-Capital in Excess of Par value - Preferred Stock Paid-in-Capital in Excess of Par value - Common Stock Paid-in-Capital from Treasury Stock Less: Treasury Stock-Common Return to course esc Save Answers Total Stockholders' Equit