Question 6: Korhal Corporation reports the following components of stockholders' equity at December 1, 2018. Common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding. . .... $400,000 Paid-in capital in excess of par value, common stock .. . 60,000 Retained earnings. ...... 270,000 Total stockholders' equity . $730,000 During 2019, the following transactions affected its stockholders' equity accounts. an. 2 Purchased 3,200 shares of its own stock at $20 cash per share. an. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. eb. 28 Paid the dividend declared on January 5. uly 6 Sold 1,100 of its treasury shares at $24 cash per share. ug. 22 Sold 2,100 of its treasury shares at $17 cash per share. ep. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $388,000 credit balance (from net income) in the income summary account to Retained Earnings. a. Prepare journal entries to record each of these transactions. [4 Marks] b. Prepare a statement of retained earnings for the year ended December 31, 2019. [1 Mark] c. Prepare the stockholders' equity section of the company's balance sheet as of December 31