Problem 15-1 (Part Level Submission) On January 5, 2017, Oriole Corporation received a charter granting the right to issue 5,100 shares of $100 par value, 9% cumulative and nonpartic preferred stock, and 49,000 shares of $10 par value common stock. It then completed these transactions. Jan. 11 Feb. 1 July 29 Aug. 10 Dec. 31 Dec. 31 Issued 21,800 shares of common stock at $17 per share. Issued to Sanchez Corp. 4,400 shares of preferred stock for the following assets: equipment with a fair value of $48,000; a factory build with a fair value of $147,000; and land with an appraised value of $254,000. Purchased 1,800 shares of common stock at $18 per share. (Use cost method.) Sold the 1,800 treasury shares at $15 per share. Declared a $0.45 per share cash dividend on the common stock and declared the preferred dividend. Closed the Income Summary account. There was a $188,300 net income. (a) Your answer is correct. Record the journal entries for the transactions listed above. (Credit account titles are automatically indented when amount is entered. Do indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record entries in the o displayed in the problem statement. Round answers to 0 decimal places, e.g. $5,275.) Date Account Titles and Explanation Credit Jan. 11 || Cash 370600 Paid-in Capital in Excess of Par - Common Stock T 152600 Common Stock T 218000 Feb. 1 Equipment 48000 Land 254000 POPOL Buildings 147000 Preferred Stock 440000 Paid-in Capital in Excess of Par - Preferred Stock 9000 July 29 | Treasury Stock 1 32400 Cash 32400 Aug. 10 Cash 27000 Retained Earnings 5400 Treasury Stock 32400 Dec. 31 Retained Earnings 49410 Dec. 31 | Retained Earnings 49410 Dividends Payable 49410 Dec. 31 | Income Summary 1883001 I Retained Earnings T T 188300 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT Attempts: 2 of 3 used (b) Prepare the stockholders' equity section of Oriole Corporation's balance sheet as of December 31, 2017. (Enter account name only and do not provide descriptive information.) ORIOLE CORPORATION Stockholders' Equity Click if you would like to Show Work for this question: Open Show Work