Prepare the Summerborn's stockholders' equity section of the balance sheet as of December 31, 2014. Assume that Summerborn was authorized to issue 2,000 shares of Preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. Ending balance of retained earnings as of December 31, 2014, is $2,050,000

16Jan	Declared a cash dividend on the 5%, $100 par preferred stock
	(900 shares outstanding). Declared a $0.30 per share dividend on the
	80,000 shares of common stock outstanding. The date of record is January 31,
	and the payment due date is February 15.
15Feb	Paid the cash dividends.
10Jun	Split common stock 2 for 1. Before the split, Summerborn had 80,000 shares
	of $6 par common stock outstanding.
30Jul	Distributed a 50% stock dividend on the common stock. The market value
	of the common stock was $9 per share.
26Oct	Purchased 1,000 shares of treasury stock at $13 per share.
8Nov	Sold 500 shares of treasury stock for $15 per share.
30Nov	Sold 300 shares of treasury stock for $8 per share.