Fill in the blanks for the missing elements in the following three statements: Corporation transactions are tracked in two different accounts; _accounts track owner contributions separately from earnings. Earnings and earning distributions are tracked in the account. Stock Example 1: Longpre Inc. is authorized to issue 1,500,000 shares of its $1 par value common stock and 400,000 shares of $50 par value preferred stock. Longpre plans to sell 20,000 shares of common stock at $38.50 and 1,000 shares of its preferred stock at $55 per share. How much capital will Longpre generate by this sale? What would be Longpre's legal capital? Stock Example 2: Howe Corporation plans to issue 7,400 shares of its $1 par value common stock for $34 per share and 800 shares of its $30 par value preferred stock for $33 per share. What would Howe's legal capital be? What would be the amount of capital received in excess of the par value of common and preferred stock? Why is a distinction made between legal capital and total capital