Hawthorne Corporation had the following stockholders' equity accounts on January 1, 2017: Common Stock (exist1 par) exist400,000, Paid-in Capital in Excess of Par-Common Stock exist500,000, and Retained Earnings exist100,000. In 2017, the company had the following treasury stock transactions. Mar. 1 Purchased 5,000 shares at exist7 per share. June. 1 Sold 1,000 shares at exist10 per share. Sept. 1 Sold 2,000 shares at exist9 per share. Dec. 1 Sold 1,000 shares at exist5 per share. Hawthorne Corporation uses the cost method of accounting for treasury stock. In 2017, the company reported net income of exist80,000. (a) Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2017, for net income. (b) Open accounts for (1) Paid-in Capital from Treasury Stock, (2) Treasury Stock, and (3) Retained Earnings. Post to these accounts using J12 as the posting reference. (c) Prepare the stockholders' equity section for Hawthorne Corporation at December 31, 2017