Company has two classes of capital stock: 8%,$10 par preferred and $2.50 par common. At December 31,2019 , the following accounts were induded in stockholders' eauitv. Preferred Stock, 1,000,000 shares authorized, 150,000 shares issued and outstanding Common Stock, 5,000,000 shares authorized, 2,000,000 shares issued and outstanding Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Par - Common Stock Retained Earnings The following transactions affected stockholders' equity during 2020. Jan. 1 - 30,000 shares of preferred stock issued at $12 per share. Feb. 1100,000 shares of common stock issued at $11 per share. June 1 - Declared a 5% stock dividend on the outstanding common stock when the stock is selling for $12.50 per share. June 20 - Issued the stock dividend declared on June 1. July 130,000 shares of common treasury stock purchased at $8 per share. Sept. 1510,000 shares of treasury stock reissued at $9 per share. Dec 31 - The preferred dividend is declared, and a common dividend at $0.25 per share is declared. Dec 31 - Net income is $1,050,000. Required: 1. Prepare Journal Entries to Record the Transactions. 2. Post all information into T-accounts. 3. Prepare the stockholders' equity section for CM Company at December 31,2020 . Show all supporting computations