2. Next, you'll be working on the equity section for a company called Kennedy Company Kennedy Company reported the following balances at December 31, 2020: common stock $500,000; paid-in capital in excess of par value $200,000; retained earnings $450,000. During 2021, the following transactions affected stockholders' equity Feb. 7 Issued preferred stock with a par value of $250,000 for $290,000. July 13 Purchased treasury stock (common) for $80,000. Nov 30 Declared and paid cash dividends of $86,000 (including $16,000 to preferred stock) Dec. 31 Earned net income of $220,000 Instructions (a) Journalize the four transactions described above (skip the description lines) (1.5 points) (b) Complete the Stockholders' Equity Statement for the end of 2021 (start with entering the opening balances given above) (2 points) (c) Complete the stockholders' equity section of Kennedy Company's December 31, 2021 balance sheet. (1 point) (d) Compute Kennedy's 2021 return on common stockholders' equity (as a percentage) (0.5 point) (a) GENERAL JOURNAL DATE ACCOUNT TITLE DEBIT CREDIT