On January 5, 2021, Shamrock Company received a charter granting the right to issue 500,000 shares of $10 par value common stock and 100,000 shares of $100 par value, 8% preferred stock. It then completed the following transactions.

2/15	Issued 50,000 shares of common stock and 10,000 shares of preferred stock for a lump sum of $11,000,000. After the issuance, the common stock is traded at $180 per share and the preferred stock at $225 per share.
6/21	Purchased back 5,000 shares of common stock at $185 per share. (Use the cost method).
8/12	Reissued 2,000 treasury shares at $200 per share.
10/3	2-for-1 stock split for common stock.
12/30	Declared preferred dividend and a 5% stock dividend on outstanding common stock when the stock was selling for $105/share. Stock dividends will be distributed next year.
12/31	Net income in 2021 was $1,550,000 (close Income Summary to Retained Earnings).

Required: (1) Prepare journal entries to record the transactions listed above. (6 points)

Date	Account title	Dr.	Cr.
	Cash	5,000,000

(2) Prepare the stockholders equity section of Shamrock Companys balance sheet as of December 31, 2021 following the format in Illustration 15-17. (4 points)

Shamrock Company, Stockholders Equity, as of December 31, 2021