Problem 13-02A a-c Martinez Corporation had the following stockholders' equity accounts on January 1, 2020: Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par-Common Stock $180,000, and Retained Earnings $120,000. In 2020, the company had the following treasury stock transactions. Mar. 1 Purchased 5,500 shares at $8 per share. June 1 Sold 1,000 shares at $12 per share. Sept.1 Sold 2,000 shares at $10 per share Dec. 1 Sold 1,000 shares at $7 per share. Martinez Corporation uses the cost method of accounting for treasury stock. In 2020, the company reported net income of $31,000 Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2020, for net income. (Record journal entries in th the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Credit Debit Dec. 1 Open accounts for Paid-in Capital from Treasury Stock, Treasury Stock, and Retained Earnings. (Post entrie previous part.) Paid-in Capital from Treasury Stock Treasury Stock Retained Earnings Prepare the stockholders' equity section for Martinez Corporation at December 31, 2020. (Enter the account name on information provided in the question.) MARTINEZ CORPORATION Balance Sheet (Partial) $L Click if you would like to Show Work for this question: Open Show Work