Accounts	amount
Preferred stock, ($100 par value, 5% noncumulative, 50,000shares authorized, 10,000 shares issued and outstanding	$1,000,000
Common stock ($10 par value, 200,000 shares authorized 100,000 shares issued and outstanding	$1,000,000
Paid in capital in excess of par, common	150,000
retained earnings	700,000

The following events occured during 2014 and were not recorded:

a. On jan 1, Frick declared a 5% stock dividend on its common stock when the market value of the common stock was $15 per share. Stock dividends were distributed on Jan 31 to shareholders as of Jan 25.

b. On Feb. 15, frick reacquired 1,000 shares of common stock for $20 each.

c. On march 31, frick reissued 250 shares of treasury stock for $25 each.

d. On july 1, frick reissued 500 shares of treasury stock for $25 each.

e. On oct 1, frick declared full year dividends for preferred stock and $1.50 cash dividends for outstanding shares and paid shareholders on oct. 15.

f. On Dec 15, frick split common stock 2 shares for 1.

g. Net income for 2014 was $275,000

Requirements

1. Prepare journal entries for the transactions listed above

2. Prepare a stockholders' section of a classified balance sheet as of December 31, 2014.