Bush-Caine Company reported the following data on its December 31,2018 , balance sheet: The following transactions were reported by the company during 2019 1. Reacquired 200 shares of its preferred stock at $57 per share 2. Reacquired 500 shares of its common stock at $16 per share 3. Sold 100 shares of preferred treasury stock at $58 per share 4. Sold 200 shares of common treasury stock at $17 per share 5 Sold 100 shares of common treasury stock at $9 per share. 6. Retired the shares of common stock remaining in the treasury The company maintains separate treasury stock accounts and related additional paid-in capitai accounts for each class of stock. The company maintains separate treasury stock accounts and related additional paid in capital accounts for each class of stock Required: 1. Prepare the joumal entries required to record the treasury stock transactions using the cost method 2 Assuming the company earned a net income in 2019 of $30,000 and declared and paid divdends of 510,000 , prepare the shareholders' equity section of its balance sheet at December 31,2019