12/17/2019 Part IV. (20 points) In Draco Corporation's first year of business, the following transactions affected its equity accounts 1) Issued 4,000 shares of 10 par value common stock for $16. It authorized 20,000 shares 2) Issued 1,000 shares of 12%, 55 par value preferred stock for $12. It authorized 3.000 shares 3) Reacquired 100 shares of common stock for $30 each. 4) Retained earnings is impacted by reported net income of $10,000 and cash dividends of $20.000 Required a) Prepare journal entries to record the above transactions. b) Prepare the stockholders' equity section of Draco's balance sheet as of December 31 Draco Company Stockholders' Equity Section of Balance Sheet December 31 Total stockholders' equity