Question 5 of 6 The stockholders' equity section of Sunland Company balance sheet at December 31, 2019, appears below. Stadtolders equity Paid in capital Common stock. $10 par value, 480,000 shares authorized 340.000 issued and outstanding Paid in capital in excess of par Total poid.in capital $3,400,000 1,290,000 4,690,000 950,000 Retained earnings Total stockholders' equity $5.640,000 During 2020, the following stock transactions occurred: 1 nud 85.000 shares of common stock at 523 per share Question 5 of 6 Aug 20 Purchased 27,000 shares of Sunland Company common stock at $25 per shure to be held in ile treasury Prepare the journal entries to record the above stock transactions. (Credit account titles are automatically indented when the entered Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amount Date Account Titles and Explanation Debit 18 Question 5 of 6 -117 E Prepare the stockholders' equity section of the balance sheet for Surland Company at December 31, 2:20. Asume theatret income for the year was $160,000 and that no dividends were declared. (Enter account name only and do not provided SUNLAND COMPANY Balance Sheet (Partial) December 31, 2020 Question 5 of 6 1