Halborn Manufacturing Co. completed the following transactions during 2018:

i More Info Jan. Feb. Jun. Jul. 16 Declared a cash dividend on the 5%, $99 par noncumulative preferred stock (1,100 shares outstanding). Declared a $0.30 per share dividend on the 90,000 shares of $4 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. 15 Paid the cash dividends. 10 Split common stock 2-for-1. 30 Declared a 40% stock dividend on the common stock. The market value of the common stock was $12 per share. 15 Distributed the stock dividend. 26 Purchased 8,000 shares of treasury stock at $9 per share. 8 Sold 4,000 shares of treasury stock for $10 per share. 30 Sold 1,400 shares of treasury stock for $5 per share. Aug. Oct. Nov. Print Done 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 entry 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 $0.30 per share dividend on the 90,000 shares of $4 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 No entry required Cash Cash Dividends Common Stock-$4 Par Value Common Stock Dividend Distributable Dividends Payable-Common Dividends PayablePreferred Paid-In Capital from Treasury Stock Transactions Paid-In Capital in Excess of Par-Common Paid-In Capital in Excess of Par-Preferred Preferred Stock-$99 Par Value Retained Earnings Stock Dividends Treasury Stock-Common Jul. 30: Declared a 40% stock dividend on the common stock. The market value of the common stock was $12 per share. Date Accounts and Explanation Credit Jul. 30 | | I | III II ON | | | Aug. 15: Distributed the stock dividend. Date Accounts and Debit Credit W Aug. 15 | | / 1 | | | 11 | | | // | | // Oct. 26: Purchased 8,000 shares of treasury stock at $9 per share. Date Accounts and Explanation Oct. 26 Debit Credit | CONNO | Nov. 8: Sold 4,000 shares of treasury stock for $10 per share. Accounts and Explanation Nov. 8 Dat 1 II I II I I II II I II ILI NITI CITI IIIIII IIIIIIIIIIIII II III III III III III II III II III III | Debit Credit II III III III TITII II II III IIIIII SI TI 1 MIT III OLULU JOJO | III I TIL | Nov. 30: Sold 1,400 shares of treasury stock for $5 per share. Date Accounts and Explanation Debit Credit Nov. 30 Requirement 2. Prepare the Halborn's stockholders 'equity section of the balance sheet as of December 31, 2018 Assume that Halborn was authorized to issue 2,400 shares of preferred stock and 300,000 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 $1,090,000. (Use parentheses or a minus sign for amounts to be subtracted.) Halborn Manufacturing, Co. Balance Sheet (Partial) December 31, 2018 Stockholders' Equity Paid-In Capital: I TIL Total Paid-In Capital Total Stockholders' Equity