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Entries for Selected Corporate Transactions Nav-Go Enterprises Inc. produces aeronautical navigation equipment. Nav-Go Enterprises' stockholders' equity accounts, with balances on January 1, 2071, are as follows: Common Stock, $10 stated value (300,000 shares authorized, 200,000 shares issued) $2,000,000 Paid-In Capital in Excess of Stated Value Common Stock 400,000 Retained Earnings 4,540,000 Treasury Stock (20,000 shares, at cost) 300,000 The following selected transactions occurred during the year: Jan. 15. Pald cash dividends of $0.14 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $25,200. Mar. 15. Sold all of the treasury stock for $18 per share. Apr. 13. Issued 40,000 shares of common stock for $720,000 June 14. Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. Suly 16. Issued shares of stock for the stock dividend declared on June 14. Oct. 30. Purchased 13,000 shares of treasury stock for $20 per share, Dec. 30. Declared a $0.17-per-share dividend on common stock 31. Closed the two dividends accounts to Retained Earnings Required: 1. The January 1 balances have been entered in accounts for the stockholders' equity accounts. Record the above transactions in the Taccounts 1. The January 1 balances have been entered in Taccounts for the stockholders' equity accounts. Record the above transactions in the accounts and provide the December 31 balance where appropriate. If required, round to one decimal place. Common Stock Jan. 1 Bal. 2,000,000 Dec. 31 Bal. Paid-In Capital in Excess of Stated Value-Common Stock Jan. 1 Bal. 400,000 Dec. 31 Bal Retained Earnings Jan. 1 Bal 4,540,000 Retained Earnings Jan. 1 Bal. 4,540,000 Dec. 31 Bal. Treasury Stock Jan. 1 Bal. 300,000 Dec. 31 Bal Paid-In Capital from Sale of Treasury Stock Stock Dividends Distributable . Paid In Capital from Sale of Treasury Stock Stock Dividends Distributable Stock Dividends A Cash Dividends 2. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank Jan. 15. Paid cash dividends of $0.14 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $25,200. Date Account Debit Credit Jan. 15 2. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 15. Pald cash dividends of $0.14 per share on the common stock. The dividend had been properly recorded when dedared on December 1 of the preceding fiscal year for $25,200. Date Account Debit Credit Jan. 15 Mar. 15. Sold all of the treasury stock for $18 per share. Date Account Debit Credit Mat. 15 Apr. 13. Issued 40,000 shares of common stock for $720,000 Date Account Debit Credit Apr. 13 Apr. 13. Issued 40,000 shares of common stock for $720,000 Dain Account Debit Credit Apr. 13 June 14. Declared a 4% on common stock, to be capitalized at the market price of the stock, which is $20 per share. Date Account Debit Credit June 14 July 16. Issued stock for stock dividend declared on June 14. Date Account Debit Credit July 16 Account Dehit Date Credit July 16 Oct. 30. Purchased 13,000 shares of treasury stock for $20 per share. Date Account Debit Credit Oct. 30 Dec. 30. Declared a $0.17-per-share dividend on common stock. Date Account Debit Credit Dec. 30 Dec. 31. Closed the two dividends accounts to retained Earnings. Date Arnant nahit Credit - Dec. 31. Closed the two dividends accounts to Retained Earnings. Date Account Debit Credit Dec 31 3. Prepare a statement of stockholders' equity for the year ended December 31, 2011. Assume that net income was $4,722,000 for the year ended December 31, 20Y1. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank or enter 04 Nay Go Enterprises Inc. Statement of Stockholders quity For the Year Ended December 31, 2011 Paid in Capital in Excess of Stated Value Paid in Capital from Sale of Treasury Stock Retained Earnings Treasury Stock Common Stock 3. Prepare a statement of stockholders' equity for the year ended December 31, 2011. Assume that net income was $4,722,000 for the year ended December 31, 2011. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank or enter"07 NOVAG Enterprises Inc Statement of Stockholders' Equity For the Year Ended December 31, 2011 Paid in Capital in Excess of Stated Value Paid In Capital from Sale of Treasury Stock Retained Earnings Treasury Stock Common Stock nt of stockholders' equity for the year ended December 31, 2011. Assume that net income was $4,722,000 for the year ended or those boxes in which you must enter subtracted or negative numbers use a minus sign. If an amount box does not require or enter"0" Nabo Enterprises in Statement of Stockholders Equity For the Year Ended December 31, 2011 Paid in Capital in Paid in Excess of Capital from Sale of Stated Value Treasury Stock Retained Earnings Treasury Stock Common Stock Total 4. Prepare the "Stockholders' Equity section of the December 31, 2041, balance sheet. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Nav-Go Enteises Inc Elalance Sheet December 21, 2011 Stockholders' Equity Paid-In Capital: Total Paid In Capital Total Total Stockholders' Equity