I need help with part c$!!!!$ please and thank you.

P$13\mathrm{.}4($L$01,2,3),$ AP Financial Statement Peck Corporation is authorized to issue $20,000$ shares of

$$50$ par value, $10\%$ preferred stock and $125,000$ shares of $$5$ par value common stock. On January $1,2022,$

the ledger contained the following stockholders' equity balances.

During $2022,$ the following transactions occurred.

Feb. $1$ Issued $2,000$ shares of preferred stock for land having a fair value of $$120,000.$

Mar. $1$ Issued $1,000$ shares of preferred stock for cash at $$65$ 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

$$30,000.$ Market price for the preferred stock was $$70$ and the fair value for the patent

was indeterminable.

Dec. $1$ Issued $8,000$ shares of common stock for cash at $$7\mathrm{.}50$ per share.

Dec. $31$ Net income for the year was $$260,000.$ No dividends were declared.

Instructions

a$.$ Journalize the transactions and the closing entry for net income.

b$.$ Enter the beginning balances in the accounts, and post the journal entries to the stockholders'

equity accounts. $($Use T$-$accounts.$)$

c$.$ Prepare a stockholders' equity section at December $31,2022.$