Fechter Corporation had the following stockholders' equity accounts on January 1, 2015: Common Stock ($5 par) $504,150, Paid-in Capital in Excess of Par-Common Stock $210,440, and Retained Earnings $117,290. In 2015, the company had the following treasury stock transactions, Mar. 1 Purchased 5,730 shares at $8 per share. June 1 Sold 1,290 shares at $13 per share Sept.1 Sold 1,200 shares at $11 per share. Dec. 1 Sold 1,420 shares at $7 per share. Fechter Corporation uses the cost method of accounting for treasury stock. In 2015, the company reported net income of $31,250. (a) Journalize the treasury stack 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 o for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1 June 1 Sept. 1 Dec. 1 Dec. 31