The stockholders' equity section of Apples balance sheet as of December 31, 2018 is as follows: Stockholders' Equity - Preferred Stock, 4% $100 par value, 100,000 shares authorized and 5000 shares issued and outstanding = $500,000 - Common stock, $10 par value; authorized, 2,000,000 shares auth: issued and outstanding 60,000 shares = $600,000 - Paid-in capital in excess of par = $850,000 - Retained earnings = $4,000,000 The following events occurred during 2019: Jan. 5: 20,000 shares of authorized and unissued common stock were sold for $19 per share. Jan. 16: Declared a cash dividend of 10 cents per share on the common stock, payable February 9 to stockholders of record on February 5. Feb. 9: Paid the dividend declared on Jan. 16 Feb. 20: 30,000 shares of authorized and unissued common stock were sold for $22 per share. Mar. 1: A 10% stock dividend was declared. Market value per share is currently $24. Apr. 1: The common stock dividend that was declared on March 1 was issued. Jul. 1: 2,000 shares of Treasury Stock was purchased at $30 per share. Sept. 1: 1,000 shares of Treasury Stock were sold for $32 per share. Dec. 31: The preferred dividend was declared and a common dividend of 50 cents a share was declared. Dec. 31: Income for the year was $575,000 Instructions: 1. Prepare all journal entries necessary for each of the transactions in 2019. 2. Post transactions to T-accounts 3. Prepare the 12/31/2019 Stockholder equity section of the balance sheet. 4. How many shares of common stock would be outstanding if a two for one stock split was declared on December 30th?