$\backslash$table$[[,$$$400000],[$Common srock is stanet value, $2,000000$ hwes whtherled,$1\mathrm{.}000000],[$Fuith Caplailin Feess of Par$-$Prefersed Stock,$100000],[$Pritin Cupta in Exces of Stited Vive$-$Common Stock,$1,450,000],[$Eetained Earning,$1816000],[$Treasury Stock $(30,000$ common tharel$),50,000]]$

During $2002,$ the corporation had the following tramactions and events pertaining to its stocktholderr' equity.

Feb. $1$ lisued $25,000$ shares of common stock for $$120,000.$

Avr. It Sold $6,000$ shwes of treawry stock$-$common for $512\mathrm{.}000.$

Sept. $3$ Isued $5,000$ ahares of common stock for a pabent valued at $$75,000.$

Nov. $10$ Purchased $1,000$ sharei of common stock for the treanury at a coot of $$6,000.$

Dec It Determined that net income for the year was $$452,000$

No dividends were dedared during the year.

$(3)$

Journalibe the tranactions and the elesing entry for net income. $($Record journol entries in the order preiented in the problem. Credit accunt ticles are avtamatically hidented when amount is entered. Do not indent manual$)$s H no entry is required, select $"$No Entry" for the acuount ticles and enter Ofor the amounts.$]$

Date Account Titles and Explanation

Debit

Credit

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