The balance sheet of Jade. Inc., at December 31. 20X1. reported 500,000 shares of $1 par common stock authorized with 100,000 shares issued. Paid-in Capital in Excess of Par-Common had a balance of $300,000. Retained Earnings had a balance of $57,000. During 20X2, the company completed the following selected transactions: Feb. 15 Mar. 8 Sep. 28 Nov. 5. Dec. 31 Required Purchased 5,000 shares of the company's own common stock for the treasury at $4 per share. Sold 2.000 shares of treasury common stock for $7 per share. Distributed a 10% stock dividend on the outstanding common stock. The market value of Jade's common stock was $5 per share. Split the common stock 2 for 1 by calling in the 109.700 shares of old $1 par common stock and issuing twice as many shares of $0.50 par common. (Stock splits affect all authorized and issued stock, including treasury stock and stock that is outstanding.) Earned net income of $73,000 during the year. Closed net income to Retained Earnings. 1. Record the transactions in the general journal. Explanations are not required. 2. Prepare the stockholders' equity section of the balance sheet at December 31, 20X2.