Loring Company reported the following in the statement of shareholders' equity at 1/1/21 : The following events occurred in 2021: 3/12,000 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. 9/910,000 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. 12/32 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