2. Excursion Publishing was recently organized as a corporation. The company issued common stock to an attorney who provided legal services worth $24,000 to help with the incorporation. Excursion also issued common stock to an inventor in exchange for her patent with a market value of $80,000. In addition, Excursion received cash both for the issuance of 10,000 shares of its preferred stock at $120 per share and for the issuance of 18,000 of its common shares at $4 per share. During the first year of operations, Excursion earned net income of $94,000 and declared a cash dividend of $30,000. Read the requirement Requirement 1. Without making journal entries, determine the total paid-in capital created by these transactions. Complete the table below by selecting the transactions that result in paid-in capital and then enter the amounts to calculate total paid-in capital for the period. (If an input field is not used in the table leave the field empty; do not select a label or enter a zero.) Transaction Paid-in capital (1) (2) (3) |(4) (5) (6) Total paid-in capital 1: Requirement 1. Without making journal entries, determine the total paid-in capital created by these transactions. (1) O O Declared dividends Earned net income O Issuance of common stock for a patent Issuance of common stock for cash Issuance of common stock for legal services Issuance of preferred stock for cash (2) O Declared dividends O Earned net income Issuance of common stock for a patent Issuance of common stock for cash Issuance of common stock for legal services Issuance of preferred stock for cash (3) O O Declared dividends Earned net income Issuance of common stock for a patent Issuance of common stock for cash Issuance of common stock for legal services Issuance of preferred stock for cash (4) O O Declared dividends O Earned net income Issuance of common stock for a patent Issuance of common stock for cash Issuance of common stock for legal services Issuance of preferred stock for cash (5) O Declared dividends O Earned net income Issuance of common stock for a patent Issuance of common stock for cash Issuance of common stock for legal services Issuance of preferred stock for cash (6) O O Declared dividends O Earned net income O Issuance of common stock for a patent Issuance of common stock for cash Issuance of common stock for legal services Issuance of preferred stock for cash