Eriksen Corporation has the following stockholders' equity accounts on January 1, 2019:

Common Stock, $10 par value .............................................. $3,000,000

Paid-in Capital in Excess of Par............................................ 400,000

Paid-in Capital: Treasury Stock ............................................ 4,000

Retained Earnings.................................................................. 1,000,000

Treasury Stock (16,000 shares at cost).................................. (160,000)

Total Stockholders' Equity.............................................. $4,244,000

April 1 Issued for cash 8,000 shares of treasury stock at $12 per share.

October 1 Issued for cash additional 4,000 shares of treasury stock at $4 per share.

December 1 Purchased 20,000 shares for treasury for $200,000 cash

December 31 Net loss for the year amounted to $106,000.

Instructions:

a) Prepare journal entries to record the above events

b) Determine the number of shares issued and outstanding on December 31, 2019, end of fiscal year.

c) What is the balance of Retained Earnings at December 31, 2019?