Mar 8: Sold 3,000 shares of treasury stock for $12 per share. Journal Entry Date Accounts Debit Credit 36,000 Mar8| Cash Treasury stock Paid-in capital, treasury stock 12,000 24,000 Sep 28: Declared and distributed a 10% stock dividend on the 122,000 shares of outstanding common stock. The market value of Quartz's common stock was $10 per share. Journal Entry Date Accounts | Debit | Credit Sep 28: Declared and distributed a 10% stock dividend on the 122,000 shares of outstanding common stock. The market value of Quartz's common stock was $10 per share. Journal Entry Date Accounts Debit Credit Sep 28] Retained earnings 122,000 Common stock Paid-in capital in excess of par-common 12,200 109,800 Requirement 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2018, assuming the company earned $79,000 of net income during the year. (Enter the accounts ir the proper order for the stockholders' equity section of the balance sheet.) Feb Mar Sep 15 Purchased 6,000 shares of treasury stock at $4 per share. 8 Sold 3,000 shares of treasury stock for $12 per share. 28 Declared and distributed a 10% stock dividend on the 122,000 shares of outstanding common stock. The market value of Quartz's common stock was $10 per share. Requirement 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2018, assuming the company earned $79,000 of net income during the year. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Stockholders' Equity shares authorized, shares outstanding Paid-in capital: Common stock, $1 par, shares issued Paid-in capital in excess of par-common Paid-in capital - treasury stock Total paid-in capital Retained earnings Less: Treasury stock shares at cost Total stockholders' equity Mar 8: Sold 3,000 shares of treasury stock for $12 per share. Journal Entry Date Accounts Debit Credit 36,000 Mar8| Cash Treasury stock Paid-in capital, treasury stock 12,000 24,000 Sep 28: Declared and distributed a 10% stock dividend on the 122,000 shares of outstanding common stock. The market value of Quartz's common stock was $10 per share. Journal Entry Date Accounts | Debit | Credit Sep 28: Declared and distributed a 10% stock dividend on the 122,000 shares of outstanding common stock. The market value of Quartz's common stock was $10 per share. Journal Entry Date Accounts Debit Credit Sep 28] Retained earnings 122,000 Common stock Paid-in capital in excess of par-common 12,200 109,800 Requirement 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2018, assuming the company earned $79,000 of net income during the year. (Enter the accounts ir the proper order for the stockholders' equity section of the balance sheet.) Feb Mar Sep 15 Purchased 6,000 shares of treasury stock at $4 per share. 8 Sold 3,000 shares of treasury stock for $12 per share. 28 Declared and distributed a 10% stock dividend on the 122,000 shares of outstanding common stock. The market value of Quartz's common stock was $10 per share. Requirement 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2018, assuming the company earned $79,000 of net income during the year. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Stockholders' Equity shares authorized, shares outstanding Paid-in capital: Common stock, $1 par, shares issued Paid-in capital in excess of par-common Paid-in capital - treasury stock Total paid-in capital Retained earnings Less: Treasury stock shares at cost Total stockholders' equity