Larkspur, Inc: had the following stockholders' equity accounts on January 1, 2020: Common Stock (\$5 par) \$516,450, Paid-in Capital in Excess of Par-Common Stock $192,300, and Retained Earnings \$119,070. In 2020, the company had the following treasury stock transactions. Mar. 1 Purchased 5,550 shares at $9 per share. June 1 Sold 1,290 shares at $12 per share. Sept. 1 Sold 1,460 shares at $10 per share. Dec. 1 Sold 1.230 shares at $6 per share. Larkspur, Inc. uses the cost method of accounting for treasury stock. In 2020, the company reported net income of $31,650. (a) Journalize the treasury stock transactions, and prepare the closing entry at December 31,2020 , for net income. (Record journal. entries in the order presented in the problem. Credit occount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)