1. Journalize the purchase of the treasury stock. 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2018. Assume the balance in retained earnings is unchanged from November 30. 3. How many shares of common stock are outstanding after the purchase of treasury stock? $ Stockholders' Equity Paid In Capital: Common Stock-$5 Par Value; 1,300 shares authorized, 190 shares issued and outstanding Paid-In Capital in Excess of ParCommon Total Paid-In Capital Retained Earnings Total Stockholders' Equity 950 2,850 3,800 50,000 $ 53,800 Great Plains Amusements Corporation had the following stockholders' equity on November 30: (Click the icon to view the stockholders' equity.) On December 30, Great Plains purchased 125 shares of treasury stock at $13 per share. Read the requirements. Requirement 1. Journalize the purchase of the treasury stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 30 Treasury Stock-Common 1,625 Cash 1,625 Purchased treasury stock. Requirement 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2018. Assume the balance in retained earnings is unchanged from November 30. Great Plains Amusements Corporation Balance Sheet (Partial) December 31 Stockholders' Equity Great Plains Amusements Corporation had the following stockholders' equity on November 30: (Click the icon to view the stockholders' equity.) On December 30, Great Plains purchased 125 shares of treasury stock at $13 per share. Read the requirements. November 30. Great Plains Amusements Corporation Balance Sheet (Partial) December 31 Stockholders' Equity Paid-In Capital: Total Paid-In Capital Total Stockholders' Equity