Obj. 2, 3, 4,6 equity Entries for selected corporate transactions PR 12-4A Morrow Enterprises Inc. manufactures bathroom fixtures. Morrow Enterprises' stockholders' accounts, with balances on January 1, 20Y6, are as follows: 4.Total ockholders' equity. $44,436,200 Common Stock $20 stated value (500,000 shares authorized 375,000 shares issued)..$7,500.000 825,000 33,600,000 450,000 Retained Earnings EXCEL TEMPLATE The following selected transactions occurred during the year: p aesnrecengomiay cash 20nd had been properly recorded Apr. 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 $25 per share. is Aug. 15. Issued shares of stock for the stock 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 31. Closed the two dividends accounts to Retained Earnings Instructions 1. En ter 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 Divi- dends Distributable; Stock Dividends; Cash Dividends 2. Journalize the entries to record the transactions, and post to the eight selected accounts. 3. Prepare a statement of stockholders' equity for the year ended December 31, 20Y6. Assume 4. Prepare the "Stockholders' Equity" section of the December 31, 20Y6, balance sheet. Assume that the closing entry for revenues and expenses has been made and post net income of $1,125,000 to the retained earnings account. that net income was $1,125,000 for the year ended December 31, 20Y6