Jan. 16 Feb. 15 Jun. 10 Jul. 30 Aug. 15 Oct. 26 Nov. 8 Nov. 30 Declared a cash dividend on the 6%, $105 par noncumulative preferred stock (1,000 shares outstanding). Declared a $0.30 per share dividend on the 115,000 shares of $4 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Paid the cash dividends. Split common stock 2-for-1. Declared a 40% stock dividend on the common stock. The market value of the common stock was $10 per share. Distributed the stock dividend. Purchased 8,000 shares of treasury stock at $9 per share. Sold 4,000 shares of treasury stock for $10 per share. Sold 1,400 shares of treasury stock for $5 per share. Requirements 1. Record the transactions in Halborn's general journal. 2. Prepare the Halborn's stockholders' equity section of the balance sheet as of December 31, 2024. Assume that Halborn was authorized to issue 2,500 shares of preferred stock and 500,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2024, is $2,050,000. 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 6%, $105 par noncumulative preferred stock (1,000 shares outstanding). Declared a $0.30 per share dividend on the 115,000 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 Feb. 15: Paid the cash dividends. Date Accounts and Explanation Debit Credit Feb. 15 Jun. 10: Split common stock 2-for-1. Date Accounts and Explanation Debit Credit Jun. 10 Jul. 30: Declared a 40% stock dividend on the common stock. The market value of the common stock was $10 per share. Date Accounts and Explanation Debit Credit Jul. 30 Aug. 15: Distributed the stock dividend. Date Accounts and Explanation Aug. 15 Oct. 26: Purchased 8,000 shares of treasury stock at $9 per share. Date Accounts and Explanation Oct. 26 Debit Debit Credit Credit Nov. 8: Sold 4,000 shares of treasury stock for $10 per share. Date Accounts and Explanation Nov. 8 Nov. 30: Sold 1,400 shares of treasury stock for $5 per share. Date Accounts and Explanation Nov. 30 Debit Debit Credit Credit Requirement 2. Prepare the Halborn's stockholders' equity section of the balance sheet as of December 31, 2024. Assume that Halborn was authorized to issue 2,500 shares of preferred stock and 500,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2024, is $2,050,000. (Use parentheses or a minus sign for amounts to be subtracted.) Halborn Manufacturing, Co. Balance Sheet (Partial) December 31, 2024 Stockholders' Equity Paid-In Capital: Total Paid-In Capital Total Stockholders' Equity