Halborn Manufacturing Co. completed the following transactions during 2018: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in Halborn's general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No ent required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Jan. 16: Declared a cash dividend on the 5%, $99 par noncumulative preferred stock (1,100 shares outstanding). Declared a $0.50 per share dividend on the 105,000 shares of $6 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Date Accounts and Explanation Debit Credit Jan. 16 X * Requirements More Info 1. Record the transactions in Halborn's general journal. 2. Prepare the Halborn's stockholders.' equity section of the balance sheet as of December 31, 2018. Assume that Halborn was authorized to issue 2,500 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2018, is $2,050,000. Jan. 16 Feb. 15 Print Done Jun. 10 Declared a cash dividend on the 5%, $99 par noncumulative preferred stock (1,100 shares outstanding). Declared a $0.50 per share dividend on the 105,000 shares of $6 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Paid the cash dividends. Split common stock 2-for-1. Declared a 30% stock dividend on the common stock. The market value of the common stock was $12 per share. Distributed the stock dividend. Purchased 8,000 shares of treasury stock at $9 per share. Sold 4,000 shares of treasury stock for $10 per share. Sold 1,400 shares of treasury stock for $5 per share Jul. 30 Aug. 15 Oct. 26 Nov. 8 Nov. 30 Print Done Halborn Manufacturing, Co. Balance Sheet (Partial) December 31, 2018 Stockholders' Equity Paid-In Capital: Total Paid-In Capital Total Stockholders' Equity