Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2019, for net income.

Open accounts for (1) Paid-in Capital from Treasury Stock, (2) Treasury Stock, and (3) Retained Earnings. (Post to T-accounts.)

Prepare the stockholders equity section for Concord Corporation at December 31, 2019.

Blue Spruce Corp. had the following stockholders' equity accounts on January 1, 2019: Common Stock ($5 par) $503,500, Paid-in Capital in Excess of Par-Common Stock $190,210, and Retained Earnings $108.610. In 2019, the company had the following treasury stock transactions. Mar. 1 Purchased 5,660 shares at $8 per share. June 1 Sold 1.440 shares at $12 per share. Sept. 1 Sold 1.430 shares at $10 per share. Dec. 1 Sold 1,040 shares at $6 per share. Blue Spruce Corp. uses the cost method of accounting for treasury stock. In 2019, the company reported net income of $26.180