Choctaw Company completed the following transactions in Year 1, the first year of operation: 1. Issued 31,000 shares of $10 par common stock for $10 per share. 2. Issued 4,100 shares of $20 stated value preferred stock for $20 per share. 3. Purchased 2,100 shares of common stock as treasury stock for $12 per share. 4. Declared a $3,100 cash dividend on preferred stock. 5. Sold 800 shares of treasury stock for $14 per share. 6. Paid $3,100 cash for the preferred dividend declared in Event 4. 7. Earned cash revenues of $100,000 and incurred cash expenses of $52,000. 8. Closed revenue, expense, and dividend accounts to the retained earnings account. 9. Appropriated $9,100 of retained earnings. Required a-1. Prepare journal entries to record these transactions. a-2. Post the entries to T-accounts. b. Prepare a balance sheet as of December 31, Year 1. Complete this question by entering your answers in the tabs below. Prepare journal entries to record these transactions. (Do not round your intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)