Prepare the journal entries to record the above stock transactions. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.$)$

unt Titles and Explanation

Common Stock

Paid$-$in Capital in Excess of Par$-$Common Stock

easury Stock

easury Stock

$($b$)$

Prepare the stockholders' equity section of the balance sheet for Cullumber Corporation at December $31,2025.$ Assume that net income for the year was $$136,875$ and that no dividends were declared.

CULLUMBER CORPORATION Balance Sheet $($Partial$)$