Part b) please

38. Yunger Corporation has the following stockholders' equity accounts on January 1, 2011: Common Stock, $10 par value $1,500,000 Paid-in Capital in Excess of Par 200,000 Retained Earnings 500,000 Total Stockholders' Equity $2.200.000 The company uses the cost method to account for treasury stock transactions. During 2011, the following treasury stock transactions occurred: April 1 Purchased 10,000 shares at $16 per share. August 1 Sold 4,000 shares at $18 per share. October1 Sold 4,000 shares at $15 per share. Instructions (a) Journalize the treasury stock transactions for 2011. (b) Prepare the Stockholders' Equity section of the balance sheet for Yunger Corporation at December 31, 2011. Assume net income was $110,000 for 2011. (a) 04/01 Treasury Stock $160,000 Cash $160,000 To record purchase of treasury stock 08/01 Cash $72,000 Treasury Stock Paid-in Capital from Treasury Stock To record sale of treasury stock $64,000 $8,000 10/01 $60,000 $4,000 Cash Paid-in Capital from Treasury Stock Treasury Stock To record sale of treasury stock $64,000