Question $1$: Transactions completed by Boating Corporation during the fiscal year $2023$:

Required $1$: Journalize the transactions

$1.$ Jan. $8.$ Split the common stock $2$ for $1$ and reduced the par from $$100$ to $$50$ per share. After the split, there were $200,000$ common shares outstanding.

$2.$ Apr. $30.$ Declared semiannual dividends of $$0\mathrm{.}85$ on $18,000$ shares of preferred stock and $$0\mathrm{.}40$ on the common stock payable on July $1.$

$3.$ July $1.$ Paid the cash dividends.

$4.$ Oct. $31.$ Declared semiannual dividends of $$0\mathrm{.}85$ on the preferred stock and $$0\mathrm{.}21$ on the common stock $($before the stock dividend$).$ In addition, a $5\%$ common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $$55.$

$5.$ Nov$\mathrm{.}20.$ Issued $25,000$ shares of common stock for $$55$ per share $($Par value $=$ $$50).$

$6.$ Dec. $5.$ Purchased $30,000$ shares of treasury stock for $$45$ per share.

$7.$ Dec. $31.$ Paid the cash dividends and issued the certificates for the common stock dividend.

Required $2$: Prepare the Stockholder's Equity section of the December $31,2023.$ Stockholder's Equity section $-$ Balance sheet $($Partial$)$