Choctaw Co. completed the following transactions in 2018, the first year of operation: 1. Issued 23,000 shares of $15 par common stock for $15 per share. 2. Issued 3,300 shares of $25 stated value preferred stock for $25 per share. 3. Purchased 1,300 shares of common stock as treasury stock for $17 per share. 4. Declared a $2,300 cash dividend on preferred stock. 5. Sold 500 shares of treasury stock for $19 per share. 6. Paid $2,300 cash for the preferred dividend declared in Event 4. 7. Earned cash revenues of $84,000 and incurred cash expenses of $44,000. 8. Appropriated $8,300 of retained earnings Required a. Organize the transaction in accounts under an accounting equation b. Prepare the stockholders' equity section of the balance sheet as of December 31, 2018. Complete this question by entering your answers in the tabs below. Required B Required A Organize the transaction in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Select "NA" Earnings".) Choctaw Co. Accounting Equation for the Year 2018 Stockholders' Equity Event Assets Liabilities Paid-in Capital In Excess Appropriated Retained Preferred Stock Common Stock Treasury Retained Dividens Cash Accounting Title Retained Ear Stock Treasury Stock Earnings Payable Earnings 1 + + 2. + + 3. 4. + + 5. 6. + + + 7a, + + 7b. + 8 + C C 0 0 C C Totals 0+ 0+ + + + + + + + + + + + II Required A Required B Prepare the stockholders' equity section of the balance sheet as of December 31, 2018. (Negative amount should be indicated by a minus sign.) CHOCTAW cO As of December 31, 2018 Stockholders' equity Total Paid-In Capital 0 Retained Earnings Total Retained Earnings 0 Total Stockholders' Equity 0