Lion Corporation's balance sheet shows the following at January 1, 2020. Common stock, $10 par $600,000 Paid-in capital in excess of par 120,000 Retained earnings 450,000 The following transactions occurred during the year. January 15 : Bought 4,000 shares of its common stock as treasury stock at $15 a share. February 20 : Sold 2,000 treasury shares at $16 a share. April 10 : Sold 1,500 shares of treasury stock at $13 a share. December 31 : Declared $0.50 per share cash dividend. December 31 : Net income for the year was $164,000. Instructions (a) Prepare the journal entry for these transactions under the cost method of accounting for treasury stock. (b) Prepare the stockholders' equity section of Lion Corporation's balance sheet after giving the effect of these transactions