Frontier Amusements Corporation had the following stockholders' equity on November 30: (Click the icon to view the stockholders' equity.) On December 30, Frontier purchased 250 shares of treasury stock at $8 per share. Read the requirements Requirement 1. Journalize the purchase of the treasury stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 30 Requirement 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2024. Assume the balance in retained earnings is unchanged from November 30. Frontier Amusements Corporation Balance Sheet (Partial) December 31 Stockholders' Equity - X Data table Paid-In Capital - X Requirements Stockholders' Equity Paid-in Capital: Common Stock-$5 Par Value; 1,300 shares authorized, 320 shares issued and outstanding Paid-In Capital in Excess of ParCommon Total Paid-In Capital $ 1. Journalize the purchase of the treasury stock. . 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2024. Assume the balance in retained earnings is unchanged from November 30. 3. How many shares of common stock are outstanding after the purchase of treasury stock? 1,600 4.800 Total Paid-In Capital 6,400 54,000 Retained Earnings Total Stockholders' Equity $ 60,400 Total Stockholders' Equity ' Requirement 3. How many shares of common stock are outstanding after the purchase of treasury stock? Print Done shares are outstanding. Print Done