Loring Company reported the following in the statement of shareholders equity at 1/1/21: Common stock, $10 par value, authorized 300,000 shares, issued 80,000 $ 800,000 Additional paid-in capital 1,785,000 Retained earnings 748,400 3,333,400 Less: treasury stock, at cost, 5,000 shares (160,000) Total shareholders equity $ 3,173,400 The following events occurred in 2021: 3/1 2,000 shares of treasury stock were sold for $70,000. 6/15 A 28% stock dividend was declared when the market value of the stock was $33. The shares will be distributed on 7/31 to holders of record on 7/1. 9/9 10,000 of previously unissued common stock sold for $33.50 per share. 10/1 A 2-for-1 stock split was declared. 12/15 A cash dividend of $.50 per share was declared. 12/31 Net income for 2021 was $345,600. Required: (a) Prepare the journal entries required for the 2021 events affecting equity. (b) Prepare the equity section of the balance sheet at 12/31/21.