Common stock, $$5$ par value; authoriz Stockholders' Equity issued, $600,000$ shares

Retained earnings

The following events occurred during $2026$:

$[$$$3,000,000],[850,000],[4,500,000],[$$$8,350,000]$

Jan. $545,000$ shares of common stock were sold for $$8$ per share.

Jan. $16$ Declared a cash dividend of $20$ cents per share, payable February $15$ to stockholders of record on February $5.$

Feb. $2060,000$ shares of authorized and unissued common stock were sold for $$12$ per share.

March $1$ A $30\%$ stock dividend was declared and issued. Fair value per share is currently $$15.$

April $1$ A two$-$for$-$one split was carried out. The par value

July $1$ A $15\%$ stock dividend was declared and issued. Fair value is currently $$10$ per share.

Aug. $1$ A cash dividend of $20$ cents per share was declared, payable September $1$ to stockholders of record on August $21.$

REQUIRED:

Record the journal entries on the following page.

Answer the following questions:

a$.$ What is the number of common shares outstanding on December $31,2026?$

b$.$ What is the balance in Retained Earnings on December $31,2026?$