Stockholders' Equity Section as of December 31, 2016 The December 31, 2016 shareholders' equity section of the balance sheet for Wave Corporation is as follows: Shareholders' Equity Paid-in capital: ($ in millions) Common stock 120 million shares at $ 1 par $ 120 836 Paid-in capital excess of par 2,449 Retained earnings Total shareholders' equity $ 3,405 Activity in 2017 - During 2017, several transactions affected stockholders' equity of Wave Corporation. Required: 1. Prepare the necessary journal entry(s) for the following events (transactions). 2. Prepare the Wave Corporation, Stockholders' Equity Section as of December 31, 2017.