Below is the Equity section of the Reston Corporation's Statement of Financial Position as of December 31, 2021:

Common Shares ($5 par value, 2,000,000 authorized, 402,000 issued, and 400,000 outstanding) $2,010,000

Capital paid in excess of par value of common 850,000

Paid-in capital in excess of treasury shares 300

Retained Earnings 3,000,000

Shares in Portfolio 12,000

Total Estate $5,848,300

1. Prepare the necessary journal entries for the following equity transactions that occurred during 2022.

2. Indicate how many outstanding shares the company has immediately after each transaction.

January 5 - The company sold 15,000 previously unissued authorized shares of common stock at $8 each.

March 1 - A 35% stock dividend was declared and distributed. The market value of the shares on this date was $15 each.

April 1 - A 2:1 stock-split-up was declared. The market value of the shares on this date was $18 each.

July 1 - A 10% stock dividend was declared and distributed. The market value of the shares on this date was $10 each.

November 1 1,000 shares of portfolio were sold at $5.50 each.