Choctaw Co. completed the following transactions in 2018, the first year of operation 1. Issued 28,000 shares of $10 par common stock for $10 per share. 2. Issued 3,800 shares of $20 stated value preferred stock for $20 per share 3. Purchased 1,800 shares of common stock as treasury stock for $12 per share. 4. Declared a $2,800 cash dividend on preferred stock. 5. Sold 800 shares of treasury stock for $14 per share 6. Paid $2,800 cash for the preferred dividend declared in Event 4. 7. Earned cash revenues of $94,000 and incurred cash expenses of $49,000. 8. Appropriated $8,800 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