Starborn Manufacturing Co$.$ completed the following transactions during $2024.$

$($Click the icon to view the transactions$)$

Read the requirements. column and leave the remaining cells blank$)$ date is February $15$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Jan$.16],[,,,],[,,,],[,,,],[,,,]]$

Requirements

Record the transactions in Starbor's general journal.

Prepare the Starborn's stockholders' equity section of the balance sheet as of Decermber $31,2024.$ Assume that Starborn was authorized to issue $2,000$ shares of preferred stock and $300,000$ shares of common stock. Both preferred stock and cormmon stock were issued at par. The ending balance of retained earnings as of December $31,2024,$ is $$2,040,000.$

$9$ steps in total:

Jan. $16$th: declared a cash dividend on the $4\%,$ $$104$ par noncumulative preferred stock $(1,200$ shares outstanding$).$ Declared a $$0\mathrm{.}25$

her share dividend on the $80,000$shares of $$6$ par value common stock outstanding. The date of record is January $31,$ and the payment date is February $15.$

Feb. $15$: paid the cash dividends.

June $10$: Split common stock $2-$for$-1.$

July $30$: declared a $50\%$ stock dividend on the common stock. The market value of the common stock was $$10$ per share.

August $15$: distributed the stock dividend.

October $26$: purchased $5,400$ shares of treasury stock at $$11$ per share.

November $8$: sold $2,700$ shares of

treasury stock for $$13$ per share.

November $30$: sold $1,600$ shares of treasury stock for seven dollar per share.