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The following information applies to the questions displayed below. Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, par value $12 per share, 12,300 shares authorized. During the year, th following selected transactions were completed a. Sold and issued 6,400 shares of common stock for cash at $24 per share. b. Sold and issued 1,500 shares of common stock for cash at $29 per share. c. At year-end, the accounts reflected income of $6,400. No dividends were declared. 5. Required information Required: 1. Prepare the journal entries required to record the sale of common stock in (a) and (b). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Sold 6,400 shares of common stock for cash at $24 per share. Note: Enter debits before credits General Journal Debit Credit a. Record entry Clear entry View general journal Check my work Check My Work Required information 2. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet. (Amounts to be deducted should be indicated by a minus sign.) TARRANT CORPORATION Balance Sheet (Partial) At December 31, this ye Stockholders' equity Contributed capital Total contributed capital Total stockholders' equity