Below are transactions that affected the shareholders equity of ABC Co. during 2016. At Dec 31, 2015, the companys accounts included:

Common stock, 1,300,000 shares issued and outstanding, $2 par - $2,600,000

Paid-in-capital excess of par - $4,160,000

Retained earnings - $5,850,000

- January 31, 2016 the company issued 500,000 shares of its common stock for $27.50 per share.

- March 1, 2016 the company repurchased 60,000 shares of its own common stock for $28.00 per share, with the intention of later reselling it. The company used the treasury stock method to record this repurchase.

- May 1, 2016, the company repurchased 50,000 shares of its own common stock for $28.00 per share, with the intention of reselling it. The company used the treasury stock method to record this repurchase also.

- June 2, 2016 the board of directors declared a cash dividend of $.20 per share on its common shares, payable to shareholders of record June 16, to be paid June 30.

- August 1, 2016 the company resold 80,000 shares of its treasury stock for $29.00 per share. The company used the weighted average method of calculating the cost of treasury stock resold.

- September 30, 2016 the company declared and distributed a 5% common stock dividend (when the market value of the common stock was $30.00 per share).

Round all fractional shares to the nearest whole number.

A) Prepare the journal entries that the company recorded during 2016 for all of the above transactions.

B) Prepare a statement of shareholders Equity for 2016, rounded to thousands. Assume that net income was $950,000 for 2016.