Sands Corporation has the following capital structure at December 31, 2017:

6% Preffered stock, 6,000 shares issued and outstanding	$300,000
Common Stock, 40,000 shares issed and outstanding	$400,000
Paid-in Capital in excess of pary-preferred stock	$108,000
Paid-in Capital in excess of par- Common Stock	$480,000
Retained Earnings	$850,000

The following transactions affected the stockholders' equity in 2018:

1/11	Issued 20,000 shares of common stock at $26 per share
2/1	Issued 4,000 shares of preferred stock at $70 per share
6/1	2-for-1 stock split for common stock
7/29	Purchase back 8,000 shares of common stock at $15 per share (Use cost method)
8/10	Sold 5,000 treasure shares at $20 per share
12/31	Declared a $0.25 per share cash dividend on the common stock and declared the preferred divident
12/31	Net income during the year was $175,700

1. Record the journal entries for the transactions listed above

2. Prepare the stockholders' Equity section of the Balance Sheet for Sands on 12/31/2018