Accounting problem involving stockholder's equity and corresponding journal entries.

The following transactions relate to Company A. Prepare journal entries for each transaction. Prepare the equity section of the balance sheet at each year-end, December 31. Assume 2015 was Sunlight's first year of operations. 1. Company A issued 1,000 shares of $1 par value common stock for $70 per share on January 1, 2015. DATE ACCOUNT NAME DEBIT BALANCE SHEET CREDIT A = L + INCOME STMT E R - E 1/1/1 5 2. Company A issued 500 shares of no par value, $5, non-cumulative preferred stock for $50 per share on January 1, 2015. DATE ACCOUNT NAME DEBIT BALANCE SHEET CREDIT A 1/1/1 5 = L + INCOME STMT E R - E 1. Company A reported net income of $2,000 during 2015 and paid no dividends. Prepare the company's equity section of the December 31, 2015, balance sheet. Stockholders' Equity: Total Stockholders' Equity 2. On January 1, 2016, Company A purchased 200 shares of its common stock for $60 per share. DATE ACCOUNT NAME DEBIT BALANCE SHEET CREDIT A = L + INCOME STMT E R - E 1/1/1 6 3. On December 15, 2016, Company A declared and paid dividends totaling $6,600 during 2016. Prepare the company's equity section from December 31, 2016. DATE ACCOUNT NAME DEBIT BALANCE SHEET CREDIT A 12/15 /16 = L + INCOME STMT E R - E Class of Stock Total Dividend Dividend Per Share Preferred Common 3. Company A reported net income of $20,000 during 2016. Prepare the company's stockholders' equity section of the December 31, 2016, balance sheet. Stockholders' Equity: Total Stockholders' Equity