morrow enterprises inc. manufactures bathroom fixtures. the stockholders' equity accounts of Morrow Enterprise Inc., with balances on January 1,2014, are as follows: common stock , $20 stated value (500,000 shares authorized, 375,000 shares issued............$7,500,000 Paid-in capital in excess of stated values-common stock........825,000 retained earnings.........33,600,000 treasury stock (25,000 shres at cost).........450,000 the following selected transactions ocurred during the year: jan 22. paid cash dividends of $0.08 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $28,000 April 10 Issued 75,000 shares of common stock for $24 per share June 6 Sold all of the treasury stock for $26 per share July 5 Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per shared Aug 15 Issued the certificates for the dividend declared on july 5 Nov. 23 purchased 30,000 shares of treasury stock for $19 per share Dec 28 declared a $0.10 -per-share dividend on common stock Dec 31 closed the credit balance of the income summary account, $1,125,000 Dec 31 closed the two dividends accounts to retained earnings 1. enter the january 1 balances in T accounts for the stockholders equity accounts listed. Also prepare T accounts for the following: Paid-In Capital from Sale of Treasury Stock; Stock Dividends Distributable; Stock Dividends; Cash Dividends 2. Journalize the entries to record transactions, and post to the eight selected accounts 3. Prepare a retained earnings statement for the year ended December 31, 2014 4. Prepare the stockholders equity section of the december 31, 2014 , balance sheet Total stockholders equity should be $44,436,200.00