I. At the beginning of 20x1, Metro showed the following amounts in the stockholders' equity section of its balance sheet Stockholders' Equity Common stock, $1 par, 500,000 shares authorized, 382,000 shares issued and outstanding PCIEP Retained earnings 4,202,000 2,704,600 S7,288,600 Total stockholders' equity The transactions relating to stockholders' equity accounts during the year are as follows; Declared a dividend of $1 per share to stockholders of record on 1/31, payable on 2/15 1/3 2/15 Paid the cash dividend declared on 1/3 Metro purchased 6,000 shares of its own common stock at a price of S40 per share 4/12 5/9 Reissued 4,000 shares of the treasury stock at a price of $44 per share Declared a 5% stock dividend to stockholders of record at 6/ 15, to be distributed on 6/30. The market price of the stock was S42 per share on 6/1 and $45 per share on 6/15. 6/1 6/30 Distributed the stock dividend declared on 6/1 Required 1) Prepare in general journal form the entries to record the above transactions. 2) Prepare the stockholders' equity section of the balance sheet at 12/31/xl