Lynbrook Securities, Inc. was organized in January 2019. During 2019, Lynbrook engaged in the following stockholders equity activities:

1. Secured approval for a corporate charter that authorizes Lynbrook to sell 1,000,000, $10 par common shares and 75,000, $100 par preferred shares.

2. Sold 450,000 of the common shares for $18 per share.

3. Sold 20,000 of the preferred shares for $104 per share.

4. Repurchased 4,000 shares of the common stock at a cost of $20 per share.

5. Reissued 1,000 shares of the common stock that had been repurchased at a price of $24 per share.

6. Earned net income of $127,000.

7. Paid dividends of $8,000.

Required:

1. Prepare the journal entries to record these transactions (if no entry required list as NA)
2. Prepare the stockholders equity portion of Lynbrooks balance sheet as of December 31, 2019.