Part I APPLIED QUESTIONS 1. (46%)The information of DC Corporation at the end of 2018 was showed as below. Paid-in capital in excess of par, common stock .... Retained earnings.. Common stock ($5 par value, 20,000 shares issued, 17,000 outstanding).... Treasury stock (3,000 shares of common stock at cost , $ 10 per share)....... Preferred stock ($30 par, 8%, 5,000 shares issued and outstanding). $80,000 140,000 85,000 18,000 50,000 During 2019, Rex Corporation had the following transactions and related events: Feb. 1 Issued 800 shares of $5 par value common stock at $11 per share. Mar. 15 Issued 1000 shares of $10 par, 8%, preferred stock at $33 per share. Aug. 9 Bought back 1,200 shares of common stock at $10 per share. Oct. 22 Reissued 1,200 shares of treasury stock at $12 per share. Dec. 15 Declared and paid a dividends large enough to meet the current-dividend preference on the preferred sotck and to pay common stockholders $1.50 per share. Dec. 31 Closed the dividends accounts. Required: (a) Journalize the transactions during 2019. (b) Compute the total equity of DC Corporation on Dec.31, 2019