P14.2 (LO 2, 4) (Treasury Stock Transactions and Presentation) Clemson Company had the fol lowing stockholders' equity as of January 1, 2025. Common stock, $5 par value, 20,000 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity During 2025, the following transactions occurred. Feb. 1 Mar. 1 Mar. 18 Apr. 22 May 1 Instructions $100,000 300,000 320,000 $720,000 Clemson repurchased 2,000 shares of treasury stock at a price of $19 per share. 800 shares of treasury stock repurchased above were reissued at $17 per share. 500 shares of treasury stock repurchased above were reissued at $14 per share. 600 shares of treasury stock repurchased above were reissued at $20 per share. Remaining treasury shares are retired. a. Prepare the journal entries to record the treasury stock transactions in 2025, assuming Clemson uses the cost method. b. Prepare the stockholders' equity section as of April 30, 2025. Net income for the first 4 months of 2025 was $130,000.