P14-4A The balance sheet of Beech Bros. Design Co. at December 31, 20X6, reported the following stockholders' equity: Paid-in capital: Common stock, $10 par, 100.000 shares authorized, 20,000 shares issued Paid-in capital in excess of Total paid-in capital.. Retained earnings... Total stockholders' equity. par-common $200,000 300,000 500,000 177,000 $677,000 During 20X7. Beech Bros. completed the following selected transactions: Feb. 6 July 29 Nov. 13 27 Dec. 31 Required Distributed a 10% stock dividend on the common stock. The market value of Beech Bros. common stock was $24 per share. Purchased 2.000 shares of the company's own common stock at $21 per share. Sold 400 shares of treasury common stock for $22 per share. Declared a $0.30 per share dividend on the common stock outstanding. The date of record is December 17, and the payment date is January 7. 20X8. Closed the $62.000 net income to Retained Earnings. 1. Record the transactions in the general journal. 2. Prepare a retained earnings statement at December 31, 20X7. 3. Prepare the stockholders' equity section of the balance sheet at December 31, 20X7.