P13.2 ( PO2,3), AP Fechter Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock (\$5 par) \$500,000, Paid-in Capital in Excess of Par-Common Stock $200,000, and Retained Earnings $100,000. In 2022, the company had the following treasury stock transactions. Mar. 1 Purchased 5,000 shares at $8 per share. June 1 Sold 1,000 shares at $12 per share. Sept. 1 Sold 2,000 shares at $10 per share. Dec. 1 Sold 1,000 shares at $7 per share. Fechter Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $30,000. Instructions a. Journalize the treasury stock transactions, and prepare the closing entry at December 31,2022 , for net income. b. Open accounts for (1) Paid-in Capital from Treasury Stock, (2) Treasury Stock, and (3) Retained Earnings. (Post to Taccounts.) b. Treasury Stock $8,000 c. Prepare the stockholders' equity section for Fechter Corporation at December 31, 2022. c. Total stockholders' equity $829,000 Journalize and post transactions, and prepare stockholders' equity