How do I prepare a balance sheet for the stockholder equity? On January $1,2020,$ Skysong Corporation had $$2,020,000$ of $$10$ par value common stock outstanding that was issued at par and

retained earnings of $$1,080,000.$ The company issued $245,000$ shares of common stock at $$12$ per share on July $1.$ On December $15,$

the board of directors declared a $15\%$ stock dividend to stockholders of record on December $31,2020,$ payable on January $15,2021.$

The market value of Skysong Corporation stock was $$15$ per share on December $15$ and $$16$ per share on December $31.$ Net income

for $2020$ was $$545,000.$

$($a$1)$

Journalize the issuance of stock on July $1$ and the declaration of the stock dividend on December $15.($Credit account titles are

automatically indented when the 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. List all debit entries before credit entries. Record journal entries in the order presented in the problem.$)$ Prepare the stockholders' equity section of the balance sheet for Skysong Corporation at December $31,2020.$

SKYSONG CORPORATION

Balance Sheet $($Partial$)$

For the Year Ended December $31,2020$