Daryl Corporation produces and sells hats. The Stockholders' Equity accounts on January 1, 2020 are as follows:

Common Stock, $5 par (100,000 shares authorized, 40,000 shares issued) $200,000

PIC in Excess par - Common Stock $100,000

Retained Earnings $750,000

Treasury Stock (5,000 shares at cost) $50,000

The following transactions occurred during the year:

1/09 Declared a Cash Dividend of $0.80 per share on the Common Stock outstanding.

Dividend will be paid on 2/09.

2/09 Paid the Cash Dividend that was previously declared on 1/16.

3/23 Reissued 2,500 shares of the Treasury Stock at $25 per share.

4/20 Issued 15,000 shares of Common Stock for $30 per share.

8/03 The directors declare a 2% stock dividend to be distributed on 9/13. The market

value is $40 per share on this date.

9/13 Distributed the Stock Dividend declared on 8/03.

11/17 Reissued the remaining 2,500 shares of Treasury Stock for $8 per share.

12/30 Declared a Cash Dividend of $0.90 per share on the Common Stock outstanding. The

dividend will be paid on 1/30.

12/31 Closed the $80,000 credit balance of the Income Summary account.

12/31 Closed the dividends accounts.

REQUIRED:

(1) Prepare the Journal Entries for the above transactions.

(2) Prepare the Statement of Stockholders' Equity (In Good Form) as of 12/31/20.