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: Common stock 120 Paid-in capital - excess of par Retained earnings Total shareholders' equity million shares at $ 1 par ($ in millions) $ 120 836 2,449 $ 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.