1) Nash Corporation issued 600 shares of no-par common stock for $7,600.

Prepare Nash's journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $3 per share.

2) Sunland Corporation has the following account balances at December 31, 2025.

Common stock, $5 par value $510,000

Treasury stock 93,000

Retained earnings 2,466,000

Paid-in capital in excess of par-common stock 1,385,000

Prepare Sunland's December 31, 2025, stockholders equity section.