At December 31, the end of Chilton Communication's third quarter, the following stockholders' equity accounts are reported $ 960,000 384,000 1,600,000 Paid-in capital in excess of par value, common stock. In the fourth quarter, the following entries related to its equity are recorded Jan. 17 Retained Earnings 96,000 Common Dividend Payable.. Common Dividend Payable 96,000 Feb. 5 96,000 Cash . .._ . .. 96,000 Feb. 28 Retained Earnings 252,000 Common Stock Dividend Distributable . Paid-In Capital in Excess of Par Value, 20,000 Common Stock 132,000 Mar. 14 20,000 Common Stock Dividend Distributable Common Stock, $10 Par Value 20,000 Mar 25 Memo Change the title of the Common Stock account to reflect the new par value of $5. Mar. 31 Income Summary 720,000 Retained Earnings 720,000 Required 1. Explain the transaction(s) underlying each journal entry 2. Complete the following table showing the equity account balances at each indicated date (include the balances from December 31)