Problem 11-3A (Part Level Submission) The stockholders' equity accounts of Concord Corporation on January 1, 2019, were as follows. Preferred Stock (8%, $50 par, cumulative, 11,000 shares authorized) Common Stock ($1 stated value, 1,950,000 shares authorized) Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (10,500 common shares) $ 425,000 1,150,000 105,000 1,450,000 1,850,000 42,000 During 2019, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 25,500 shares of common stock for $116,000. Sold 5,800 shares of treasury stock-common for $33.900. Sept. 3 Issued 5,200 shares of common stock for a patent valued at $35,900. Nov. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $6,000. Dec. 31 Determined that net income for the year was $450,000. No dividends were declared during the year. (b) Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Paid-in Capital from Treasury Stock Treasury Stock