Please help with the incorrect parts

Sun Corporation received a charter that authorized the issuance of 119,000 shares of $4 par common stock and 18,000 shares of $125 par, 7 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation:

Year 1

Jan.	5		Sold 17,850 shares of the $4 par common stock for $6 per share.
	12		Sold 1,800 shares of the 7 percent preferred stock for $135 per share.
Apr.	5		Sold 23,800 shares of the $4 par common stock for $8 per share.
Dec.	31		During the year, earned $312,500 in cash revenue and paid $238,900 for cash operating expenses.
	31		Declared the cash dividend on the outstanding shares of preferred stock for Year 1. The dividend will be paid on February 15 to stockholders of record on January 10, Year 2.

Year 2

Feb.	15		Paid the cash dividend declared on December 31, Year 1.
Mar.	3		Sold 2,700 shares of the $125 par preferred stock for $145 per share.
May	5		Purchased 550 shares of the common stock as treasury stock at $8 per share.
Dec.	31		During the year, earned $251,900 in cash revenues and paid $173,500 for cash operating expenses.
	31		Declared the annual dividend on the preferred stock and a $0.75 per share dividend on the common stock.

Required

1. Organize the transaction data in accounts under an accounting equation.
2. Prepare the stockholders equity section of the balance sheet at December 31, Year 1.
3. Prepare the balance sheet at December 31, Year 2.

\begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{18}{|c|}{ Accounting Equation } \\ \hline \multirow[t]{2}{*}{ Event } & \multirow{2}{*}{\begin{tabular}{l} Assest \\ Cash \end{tabular}} & \multirow{2}{*}{\begin{tabular}{l} = \\ = \end{tabular}} & \multirow{2}{*}{\begin{tabular}{l} Liabilities \\ Dividends \\ Payable \end{tabular}} & \multirow{2}{*}{\begin{tabular}{l} + \\ + \end{tabular}} & \multicolumn{11}{|c|}{ Stockholders' Equity } & \multirow{2}{*}{\multicolumn{2}{|c|}{\begin{tabular}{l} Account Titles for \\ Retained Earnings \end{tabular}}} \\ \hline & & & & & \begin{tabular}{l} Preferred \\ Stock \end{tabular} & + & \begin{tabular}{c} Common \\ Stock \end{tabular} & + & \begin{tabular}{l} Paid-in \\ Capital \\ in \\ Excess \\ of \\ Preferred \\ Stock \end{tabular} & + & \begin{tabular}{l} Paid-in \\ Capital \\ in \\ Excess \\ of \\ Common \\ Stock \end{tabular} & - & \begin{tabular}{c} Treasury \\ Stock \end{tabular} & + & \begin{tabular}{l} Retained \\ Earnings \end{tabular} & & \\ \hline \multicolumn{18}{|l|}{ Year 1} \\ \hline Jan.5 & 107,100 & = & 00 & + & 0 & + & 71,400 & + & 00 & + & 35,700 & - & 00 & + & 00 & & \\ \hline Jan.12 & 243,000 & = & 00 & + & 225,000 & + & 00 & + & 18,000 & + & 00 & - & 00 & + & 00 & & \\ \hline Apr.5 & 190,400 & = & 00 & + & 0 & + & 95,200 & + & 00 & + & 95,200 & - & 02 & + & 00 & & \\ \hline Dec.31 & 312,500 & = & 00 & + & 0 & + & 00 & + & 00 & + & 00 & - & 00 & + & 312,500 & Service revenue & \\ \hline Dec.31 & (238,900) & = & 00 & + & 0 & + & 00 & + & 00 & + & 00 & - & 00 & + & (238,900) & Operating expenses & \\ \hline Dec.31 & 00 & = & 15,750 & + & 0 & + & 00 & + & 00 & + & 00 & - & 00 & + & (15,750) & Dividends & \\ \hline Bal. & 614,100 & = & 15,750 & + & 225,000 & + & 166,600 & + & 18,000 & + & 130,900 & - & 0 & + & 57,850 & & \\ \hline \multicolumn{18}{|l|}{ Year 2} \\ \hline Feb.15 & (15,750) & = & (15,750) & + & 00 & + & 00 & + & 00 & + & 00 & - & 00 & + & 00 & & \\ \hline Mar.3 & 391,500 & = & 00 & + & 337,500 & + & 00 & + & 54,000 & + & 00 & - & 00 & + & 00 & & \\ \hline May 5 & (4,400) & = & 00 & + & 00 & + & 00 & + & 00 & + & 00 & - & 4,400 & + & 00 & & \\ \hline Dec.31 & 251,500 & = & 00 & + & 00 & + & 00 & + & 00 & + & 00 & - & 00 & + & 251,500 & Service revenue & 0 \\ \hline Dec.31 & (172,700) & = & 00 & + & 0 & + & 00 & + & 00 & + & 00 & - & 00 & + & (172,700) & Operating expenses & 2 \\ \hline Dec.31 & 00 & = & 65,550 & + & 0 & + & 00 & + & 00 & + & 00 & - & 00 & + & (65,550) & Dividends & 2 \\ \hline Bal. & 1,064,250 & = & 65,550 & + & 562,500 & + & 166,600 & + & 72,000 & + & 130,900 & - & 4,400 & + & 71,100 & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ SUN CORPORATION } \\ \hline \multicolumn{3}{|l|}{ Balance Sheet } \\ \hline \multicolumn{3}{|l|}{ As of December 31, Year 2} \\ \hline \multicolumn{3}{|l|}{ Assets } \\ \hline Cash & $1,014,550 & \\ \hline Total assets & & $1,014,550 \\ \hline \multicolumn{3}{|l|}{ Liabilities } \\ \hline Dividend payable & 65,550 & \\ \hline Total liabilities & & 65,550 \\ \hline \multicolumn{3}{|l|}{ Stockholders' equity } \\ \hline Preferred stock & 562,500 & \\ \hline Common stock & 166,600 & \\ \hline Paid-in capital in excess of par-preferred stock & 72,000 & \\ \hline Paid-in capital in excess of par-common stock & 130,900 & \\ \hline Total paid-in capital & 932,000 & \\ \hline Retained earnings & 61,000 & \\ \hline Less: Treasury stock (Common) & (4,400) & \\ \hline Total stockholders' equity & & 988,600 \\ \hline Total liabilities and stockholders' equity & & $1,054,150 \\ \hline \end{tabular}