13-4B Nav - Go Enterprises Inc. produces aeronautical navigation equipment. The stockholders' equity accounts of Nav - Go Enterprises Inc., with balances on January 1, 2014, are as follows: Common Stock, $5 stated value (900,000 shares authorized, 620,000 shares issued)......................................................................................$3,100,000 Paid - In Capital in Excess of Stated Value - Common Stock........................1,240,000 Retained Earnings ................................................................................................4,875,000 Treasury Stock (48,000 shares, at cost)............................................................288,000 The following selected transactions occurred during the year: Jan. 15, Paid cash dividends of $0.06 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $34,320. Mar. 15, Sold all of the treasury stock for $6.75 per share. Apr. 13, Issued 200,000 shares of common stock for $8 per share. June 14, Declared a 3% stock dividend on common stock, to be capitalized at the market price of the stock, which is $7.50 per share. July 16, Issued the certificates for the dividend declared on June 14. Oct. 30, Purchased 50,000 shares of treasury stock for $6 per share. Dec. 30, Declared a $0.08 - per - share dividend on common stock. 31, Closed the credit balance of the income summary account, $775,000. 31, Closed the two dividends accounts to Retained Earnings. 1. Enter the January 1 balances in T accounts for the stockholders' equity accounts listed. Also prepare T accounts for the following: Paid - In Capital from Sale of Treasury Stock; Stock Dividends Distributable; Stock Dividends; Cash Dividends. 2. Journalize the entries to record the transactions, and post to the eight selected accounts. 3. Prepare a retained earnings statement for the year ended December 31, 2014. 4. Prepare the Stockholders' Equity section of the December 31, 2014, balance sheet