Knapp Industries began business on January 1, 2018 by Issuing all of its 1,300,000 authorized shares of its $2 par value common stock for $25 per share. On June 30, Knapp declared a cash dividend of $2.25 per share to stockholders of record on July 31. Knapp paid the cash dividend on August 30. On November 1. Knapp reacquired 260.000 of its own shares of stock for $30 per share on December 22, Knapp resold 130,000 of these shares for $36 per share Required: o. Prepare all of the necessary Journal entries to record the events described above. b. Prepare the stockholders' equity section of the balance sheet as of December 31, 2018 assuming that the net income for the year was $5,500,000 No Journal Entry Required in the first account field.) Help 1 View transaction list Journal entry worksheet A 1:27:07 > Record the issue of 1,300,000 authorized shares of $2 par value for $25 per share Note: Enter detts before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal Journal entry worksheet Record the declaration of the cash dividends of $2.25 per share. Note: Enter debits before credits General Journal Debit Credit Transaction 2 View general journal Record entry Clear entry Journal entry worksheet