ABC Inc. has the following stockholders' equity on January 1,2018: $2,500,000 $7,500,000 $1,100,000 $6,000,000 $50,000 Common stock, 500,000 shares, $5 par... Paid in capital in excess of par-common.. Treasury Stock, 50,000 shares Retained earnings... Paid in capital - Share repurchase... Throughout the year, ABC Inc. has made the following transactions: January 7th ABC Inc. acquires 20,000 shares when the market price was $24 per share as Treasury stock. February 5th Retires 30,000 shares when the market price was $21 per share. March 19th Reissues 50,000 shares of treasury stock at $25 per share. ABC Inc. uses the FIFC April 28thABC Inc. decides to retire their remaining treasury stock when the market is $23 May 14thIssues an additional 25,000 shares in exchange for a piece of equipment that has a July 20thABC Inc. declares that there will be a two-for-one stock split method per share. fair market value of $500,000 August 3rd ABC Inc. declares a 10% stock dividend when the current market price is $25 There are fractional shares equivalent to 5,000 shares that will be paid in cash October 12'th A$1 cash dividend is declared. The date of record is October 20th, and the date of payment will be October 31st December 8th A 40% stock dividend is issued Required: 1) Prepare the appropriate journal entries for each transactions. 2) How many shares are issued and outstanding at the end of 2018