2: Twin Lakes incorporated on April 1, 2015, and was authorized to issue 100,000 shares of $5 par value common stock. During the remainder of 2015, the company entered into the following transactions: 1. Issued 25,000 shares of common stock in exchange for $500,000 in cash. 2. Purchased 3,000 common shares for $15 per share and held them in the form of treasury stock. 3. Sold 1,000 treasury share for $18 per share on the open market. 4. Issued 1,000 treasury shares to executives who exercised stock options for a reduced price of $5 per share. a. Prepare entries for each of the transactions. b. Assume that Twin Lakes generated $500,000 in net income and did not declare any dividends during 2015. How much is total stockholders' equity as of December 31,2015