At September 30, the end of Beijing Company's third quarter, the following stockholders' equity ac- counts are reported. Problem 13-3A Equity analysis-journal entries and account balances P2 Common stock, $12 par value Paid-in capital in excess of par value, common stock Retained earnings . . . $360,000 90,000 320,000 In the fourth quarter, the following entries related to its equity are recorded: Oct. 2 60,000 Retained Earnings. Common Dividend Payable Retained Earnings 60,000 Oct. 25 60,000 Cash 60,000 Oct. 31 .. 75,000 6,000 Common Stock Dividend Distributable Paid-In Capital in Excess of Par Value, Common Stock . .. 39,000 Nov. 5 Common Stock Dividend Distributable . . . . . . . . .. . . 36,000 Common Stock, $12 Par Value 36,000 Memo Change the title of the Common Stock account to reflect the new par value of $4. Dec. 3 210,000 Retained Earnings 210,000 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 September 30). Oct. 2 Oct. 25 Oct. 31I Nov. 5 Dec.I Dec. 31 Common stock Common stock dividend distributable Paid-in capital in excess of par, common stock . . . . . . .- . Check Total equity: Oct. 2 $710,000; Dec 31, $920,000 Total equity