Nav-Go Enterprises Inc. produces aeronautical navigation equipment. The stockholders' equity accounts of Nav-Go Enterprises Inc., with balances on January 1, 2014, are as follows: The following selected transactions occurred during the year: Paid cash dividends of $0.06 per share on the common stock. The dividend had been properly recorded when declared on Deceml>er 1 of the preceding fiscal year for $54,320. Sold all of the treasury stock for $6.75 per share. Issued the certificates for the dividend declared on June 14. Purchased 50,000 shares of treasury stock for 16 per share. Declared a $0.08-per-share dividend on common stock. Closed the credit balance of the income summary account, $775,000. Closed the two dividends accounts to Retained Earnings. Enter the January 1 balances in T accounts for the stockholders' equity accounts listed. Paid-In Capital from Sale of Treasury Stock; Stock Dividends Distributable; Stock Dividends; Cash Dividends. Journalize the entries to record the transactions, and post to the eight selected ac-counts. Prepare a retained earnings statement for the year ended December 31, 2014. Prepare the Stockholders' Equity section of the December 31, 2014, balance sheet