Lava Lake Inc. bottles and distributes spring water. On February 11 of the current year, Lava Lake reacquired 3,900 shares of its common stock at $92 per share. On April 30, Lava Lake Inc. sold 2,700 of the reacquired shares at $99 per share. On August 22, Lava Lake Inc. sold 1,200 shares at $88 per share. a. Journalize the transactions of February 11, April 30, and August 22. If an amount box does not require an entry, leave it blank. Feb. 11 Treasury Stock Cash Apr. 30 Cash Treasury Stock Paid-In Capital from Sale of Treasury Stock Aug. 22 Cash Paid-In Capital from Sale of Treasury Stock Treasury Stock .000 000 == Feedback Check My Work b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? Credit PickApart Arts, Inc., had earnings of $301,500 for the year. The company had 52,000 shares of common stock outstanding during the year and issued 3,700 shares of $50 par value preferred stock. The preferred stock has a dividend of $7 per share. There were no transactions in either common or preferred stock during the year. Determine the basic earnings per share for PickApart Arts for the year. Round answer to two decimal places. per share