HW Problem $11\mathrm{.}2-$ Sneijder Company's shareholder's equity contained the following items on $12/31/$X$1.$

Common Stock $-$ $$2$ par value, $200,000$ shares authorized,

$80,000$ issued and $70,000$ outstanding $............................$ $$160,000$

Paid in Capital in Excess of Par $-$ Common $............................................$ $$640,000$

Preferred Stock $-10\%$ non$-$cumulative, $$25$ par value,

Retained Earnings $............................................................$ $$500,000$

During $202$ Sneijder had the following transactions:

$1/15$ Issued $20,000$ additional shares of preferred stock and received $$650,000.$

$1/15$ Issued $20,000$ additional shares of preferred stock and dividends of $$3$ per share common stock with $\frac{3}{15}$ record date and $3/31$ payment date.

$\frac{3}{31}$ Paid the common dividends declared on February ${20}^{th}.$

$4/$IS Purchased back $10,000$ common shares $($par value $$2$& market value $$9$ per share$).$

$12/31$ Closed $$2$ million of earnings from the income summary into retained earnings.

a$.$ Prepare joumal entries for $202.$

b$.$ Prepare a statement of retained earnings for the year ending $12/31/$X$2.$

c$.$ Prepare the shareholder's equity section from Sneijder Company's balance sheet.