During 2014, Haley engaged in the following transactions involving its equity accounts:

a.Sold 5,000 shares of common stock for $19 per share.

b.Sold 1,200 shares of 12%, $50 par preferred stock at $75 per share.

c.Declared and paid cash dividends of $22,000.

d.Repurchased 1,000 shares of treasury stock (common) for $24 per share.

e.Sold 300 of the treasury shares for $26 per share.

Required:

1. Prepare the journal entries for Transactions a through e. For a compound transaction

2. Assume that 2014 net income was $123,700. Prepare a statement of stockholders' equity at December 31, 2014.