Requirement 1. Record the transactions in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Feb 15: Purchased 7,000 shares of treasury stock at $9 per share. More info Feb 15 Purchased 7,000 shares of treasury stock at $9 per share. Mar 8 Sold 2,000 shares of treasury stock for $10 per share. Sep 28 Declared and distributed a 15% stock dividend on the 95,000 shares of outstanding common stock. The market value of Quiet Time's common stock was $11 per share. Requirements 1. Record the transactions in the journal. Explanations are not required. 2. Prepare the stockholders' equity section of the balance sheet at December 31 , 2018 , assuming the company earned $79,000 of net income during the year