Need help with requirement 2. Please show work. Thank you

%E13-23 (similar to) The charter for KVIP-TV, Inc. authorizes the company to issue 100,000 shares of $7, no-par preferred stock and 500,000 shares of common stock with $1 par value. During its start-up phase, KVIP-TV completed the following transactions: (Click on the icon to view the transactions) Read the requirements Debit Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Sep. 6: Issued 275 shares of common stock to the promoters who organized the corporation, receiving cash of $8,250. Date Accounts and Explanation Credit Sep. 6 Cash 8,250 More Info Common Stock-$1 Par Value 275 Paid-In Capital in Excess of Par-Common 7,975 X Issued common stock for cash. Issued 275 shares of common stock to the promoters who organized the corporation, receiving Sep. 6 cash of $8,250 Sep. 12 Issued 350 shares of preferred stock for cash of $30,000. Sep. 14 Issued 1,700 shares of common stock in exchange for land with a market value of $18,000. Sep. 12: Issued 350 shares of preferred stock for cash of $30,000. Date Credit Debit 30,000 Accounts and Explanation Cash Preferred Stock-No Par Value Sep. 12 Assume KVIP-TV, Inc. had net income of $40,000 for the month. 30,000 Print Done Issued preferred stock for cash. Sep. 14: Issued 1,700 shares of common stock in exchange for land with a market value of $18,000. Date Accounts and Explanation Debit Credit Sep. 14 Land 18,000 Common Stock-$1 Par Value 1,700 Paid-In Capital in Excess of Par-Common 16,300 Issued common stock for land Requirement 2. Prepare the stockholders' equity section of the KVIP-TV balance sheet at September 30, 2018, assuming KVIP-TV, Inc. had net income of $40,000 for the month. KVIP-TV, Inc. Balance Sheet (Partial) September 30, 2018 Stockholders' Equity Paid-In Capital: Preferred Stock-$7, No-Par Value; 100,000 shares authorized, 350 shares issued and outstanding Common Stock-$1 Par Value; 500,000 shares authorized, 1,700 shares issued and outstanding Paid-In Capital in Excess of ParCommon Total Paid-In Capital Retained Earnings 30000 1700 40000 Total Stockholders' Equity