Assistance Needed with Accounting.

Stockholders Equity Transactions, Journal Entries, and T-Accounts The stockholders' equity of Fremantle Corporation at January 1 follows 8 Percent preferred stock, $100 par value, 20,000 shares authorized; 4,000 shares issued and outstanding $400,000 Common stock, $1 par value, 100,000 shares authorized; 40,000 shares issued and outstanding Paid-in capital in excess of par value-Preferred stock Paid-in capital in excess of par value-Common stock Retained earnings 40,000 200,000 800,000 550,000 $1,990,000 Total Stockholders' Equity The following transactions, among others, occurred during the year: Jan. 1 Announced a 2-for-1 common stock split, reducing the par value of the common stock to $0.50 per share. Converted $80,000 face value of convertible bonds payable (the book value of the bonds was $83,000) to common stock. Each $1,000 bond converted to 125 Mar. 31 shares of common stock. 1 Acquired equipment with a fair market value of $45,000 in exchange for 300 shares of preferred stock. 1Acquired 10,000 shares of common stock for cash at $20 per share. June Sept. Nov. Dec. 21 Issued 5,000 shares of common stock at $22 cash per share. 28 Sold 1,000 treasury shares at $23 per share. 31 Closed net income of $103,000, to the Retained Earnings account Required a. Set up T-accounts for the stockholders equity accounts as of the beginning of the year and enter the January 1 balances. b. Prepare journal entries for the given transactions and post them to the T-accounts (set up any additional T-accounts needed). Do not prepare the journal entry for the Dec. 31 transaction, but post the appropriate amount to the Retained Earnings T-account. Determine the ending balances for the stockholders' equity accounts