Problem 11-6A (Part Level Submission) Irwin Corporation has been ouheized to issue 20,900 shares of 100 par vale, 10%, noncumulative preferred stock and 1,072,500 shares of no-par common stock. The corporation assigned 2.75 stated value to the common stock. At December 31, 2015, the ledger contained the fol owing balances pertaining to stockholders' equity Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Sock Treasury Stock (1,000 common shares) Paid-in Capital from Treasury Stock Retained Earnings $106,000 34,500 1,072,500 13,000 500 82,000 The preferred stock was issued for land having a fair value of $140,500. All common stock issued was for cash. In November, 1,500 shares of common stock were purchased for the treasury at a per share cost of $13. In December, 500 shares of treasury stock were sold for $14 per share. No ividends were deciared in 2015 Prepare the journal entries for the: (Credit account titles are automaticaly indented when amount is entered. Do not indent manualy. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) (1) Issuance of preferred stock for land (2) Issuance of common stock for cash (3) Purchase of common treasury stock for cash. (4) Sale of treasury stock for cash