On December 31, 2022, Ingrid Industries report these numbers on the equity section of its balance sheet: Common stock, $100 par value, 1,000,000 shares authorized, $10,000,000 100,000 shares issued and outstanding Paid-in capital in excess of par value - common stock 2,000,000 Retained earnings 45,000,000 Total stockholders' equity $57,000,000 In 2023, the following transactions occurred related to the company's stockholders' equity. Mar 4 Mar 26 Apr 5 Nov 1 The board of directors declared a 5-for-1 stock split of Osgood's stock. Declared a dividend of $1.75 per share on common stock, payable April 5. Paid the dividend declared on March 26. Declared a 5% stock dividend on common stock. The fair market value of the stock on this date is $25, to be distributed to stockholders of record on November 15. Distributed the certificates for the common stock dividend declared on November 1. Issued 5,000 additional shares of common stock at $30 per share. Net income for the year amounted to $9,450,000. Dec 1 Dec 15 Dec 31 1. Prepare journal entries to record the 2023 transactions. Explanations are not required. 2. Construct the equity section of the December 31, 2023 balance sheet. 3. What is total paid-in capital on December 31, 2023? 4. What is total earned capital on December 31, 2023? 5. How many shares of common stock are issued on December 31, 2023? 6. How many shares of common stock are outstanding on December 31, 2023