CALCULATOR | | MESSAGE HY INSTRUCT Problem 11-3A The stockholders' equity accounts of Larkspur, Inc. on January 1, 2019, were as follows. Preferred Stock (896, $48 par, cumulative, 11,000 shares authorized) Common Stock ($1 stated value, 1,950,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (11,000 common shares) 408,000 1,250,000 100,000 1,400,000 1,800,000 55,000 During 2019, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 26,000 shares of common stock for $122,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $33,900. Sept. 3 Issued 5,200 shares of common stock for a patent valued at $35,000. Nov. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $6,100. Dec. 31 Determined that net income for the year was $420,000 No dividends were declared during the year. Journalize the transactions and the closing entry for net income. (Record journal entrles in the order presented in the problem. Credit account titles ane automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Debit Credit Date Account Titles and Explanation Version 4.24.10.9 te All Rights Reserved. A Division of antass & cons LINK TTEXT LINK TO TEXT VIDE O: SIMILAR PROBLEM Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Use T-accounts.) (Post entries in the order of journal entries presented in the previous part) Preferred Stock CALCULATOR MESSAGE HY INSTRUCTOR IRLL SCREEN | PRINTER VERSION-,BACK Enter the beginning balances In the accounts, and post the journal entries to the stockholders' equity accounts. (Use T-accounts.) (Post entries in the order of journ entries presented in the prevlous part.) Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Pald-In Capltal In Excess of Stated Value-Common Stock Retained Earnings Paid-in Capital from Treasury Stock Treasury Stock Treasury Stock LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR P Prepare a stockholders' equity section at December 31, 2019, including the disclosure of the preferred dividend provide the descriptive information provided in the question.) Larkspur, Inc. Balance Sheet (Partial) Prepare a stockholders' equity section at December 31, 2019, including the disclosure of the preferred dividends in arrears. (Enter the account name only and do not provide the descriptive information provided in the question) Larkspur, Inc. Balance Sheet (Partial) CALCULATOR MESSAGE MY INSTRUCTOR c: Click if you would like to Show Work for this question: Open Show Work