Journalla transactie equity sec P13.2 (LO 2, 3), AP Financial Statement Fechter Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock ($5 par $500.000, Paid-in Capital in Excess of Par- Common Stock S200,000, and retained Earnings $100.000. In 2022, the company had the following treasury stock transactions Mar. 1 Purchased 5,000 shares at 88 per share. June 1 Sold 1,000 shares at $12 per share. Sept. 1 Sold 2,000 shares at $10 per share. Dec. 1 Sold 1,000 shares at $7 per share Fechter Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $30,000 Instructions a. Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2022, for net income b. Open accounts for (1) Paid-in Capital from Treasury Stock, (2) Treasury Stock, and (3) Retained Earnings. (Post to T-accounts.) c. Prepare the stockholders' equity section for Fechter Corporation at December 31, 2022. b. Tres c. Tota $828