1) (45 Points) In 2020, Feathers Company was authorized to issue 750,000 shares of $5 par value common stock. A. Prepare journal entries to record the following selected transactions that occurred during the company's first year of operations; and B. Prepare the statement of retained earnings as of 12/31/2020. Exchanged 220,000 shares of common stock for a building with a market May 5 value of $1,350,000. July 20 Sold 155,000 shares of common stock for $15 cash per share. Dec. 20 Sold 100,000 shares of common stock at $17 cash per share Dec. 25 Paid cash dividends of $1 per share Recorded net income of $250,000 and closed the income summary and Dec. 31 dividends accounts a. DATE GENERAL JOURNAL DEBIT CREDIT b. use this to prepare the stockholders' equity