Knapp Industries began business on January 1, 2021 by issuing a fs 1700,000 authored shares of $2 for $33 per share. On June 30, Knapp declared a cash dividend of $20 the cash dividend on August 30 On November 1, Knapp reacquired 340,000 December 22, Knapp resold 170,000 of these shares for $44 per share Required: own shares a. Prepare all of the necessary journal entries to record the events described above. stock for $38 per share. On b. Prepare the stockholders' equity section of the balance sheet as of December 31, 2021 assuming that the net income for the year was $9,500,000.