Starborn Manufacturing Co. completed the following transactions during 2024 : (i) (Click the icon to view the transactions.) Read the requirements. cells blank.) Requirements 1. Record the transactions in Starborn's general journal. 2. Prepare the Starborn's stockholders' equity section of the balance sheet as of December 31,2024 . Assume that Starborn was authorized to issue 2,000 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31,2024 , is $2,030,000. More info Jan. 16 Declared a cash dividend on the 4%,$100 par noncumulative preferred stock (950 shares outstanding). Declared a $0.50 per share dividend on the 105,000 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. Jun. 10 Split common stock 2-for-1. Jul. 30 Declared a 40% stock dividend on the common stock. The market value of the common stock was $9 per share Aug. 15 Distributed the stock dividend. Oct. 26 Purchased 5,400 shares of treasury stock at $11 per share. Nov. 8 Sold 2,700 shares of treasury stock for $13 per share. Nov. 30 Sold 1,600 shares of treasury stock for $7 per share