Mitchell Company Partial Balance Sheet December 31, 2014 Stockholders' Equity Paid-in Capital Capital Stock Common Stock, no par $10 stated value, 2,000,000 shares authorized, 248,000 shares issued and outstanding $2,480,000 Additional paid-in capital 3.720.000 6,200,000 540,000 $6,740,000 Common Stock Total paid-in capital Retained Earnings Total Stockholders' Equity On February 15, 2015 the company issued 25,000 shares at $32 per share. On July 2, they repurchased 4,610 shares of its common stock at $28 per share. On March 1 and September 1, they declared a cash dividend of $1.10 per share. The dates of record were March 15 and September 15 The dividends were paid on April 1 and October 1. Net income for the year was $125,000. Prepare the necessary journal entries and the Stockholders' Equity section of the Balance Sheet for December 31, 2015