Fechter Corporation had the following stockholders equity accounts on January 1, 2015: Common Stock ($4 par) $419,880, Paid-in Capital in Excess of ParCommon Stock $193,020, and Retained Earnings $118,110. In 2015, the company had the following treasury stock transactions.

Mar.	1		Purchased 5,920 shares at $8 per share.
June	1		Sold 1,130 shares at $13 per share.
Sept.	1		Sold 1,010 shares at $11 per share.
Dec.	1		Sold 1,310 shares at $7 per share.

Fechter Corporation uses the cost method of accounting for treasury stock. In 2015, the company reported net income of $25,720.

Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2015, for net income.

Open accounts for Paid-in Capital from Treasury Stock, Treasury Stock, and Retained Earnings. Post to these accounts using J10 as the posting reference.

Prepare the stockholders equity section for Fechter Corporation at December 31, 2015.

Here's a list of accounts for you to use:

Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2015, for net income (credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Mar. June 1 Sept. 1 Dec. 1 Dec. 31 Treasury Stock, and Retained Earnin st to these accounts using J10 as the posting reference. (Post open accounts for Paid-in Capital from Treasury entries in the order of journal entries Stock Pot presented in the previous part.) Paid-in Capitalfrom Treasury Stock Explanation Ref Credit J10 J10 J10 Treasury Stock Explanation Ref Credit J10 J10 J10 J10 Retained Earnings Explanation Ref Credit Balance J10