AutoParts Manufacturing is preparing its financial statements for the year ending December 31, 20X1. The company had the following transactions related to equity:

• January 1: Issued 30,000 shares of common stock at $25 per share.
• March 31: Declared a dividend of $1.00 per share, payable on April 15.
• June 30: Issued 10,000 shares of preferred stock at $30 per share.
• September 30: Repurchased 5,000 shares of common stock at $28 per share.

Required:

1. Prepare the journal entries for each of the equity transactions during the year.
2. Calculate the total dividends declared and paid during the year.
3. Prepare the equity section of the balance sheet as of December 31, 20X1.
4. Explain the impact of the equity transactions on the company’s financial position and earnings per share (EPS).