Stockholders Equity: Transactions and Balance Sheet Presentation

The following is the stockholders equity of Clipper Corporation at January 1:

8 Percent preferred stock, $50 par value, 10,000 shares authorized;
7,000 shares issued and outstanding	$350,000
Common stock, $20 par value, 50,000 shares authorized;
25,000 shares issued and outstanding	500,000
Paid-in capital in excess of par value-Preferred stock	70,000
Paid-in capital in excess of par value-Common stock	385,000
Retained earnings	238,000
Total Stockholders' Equity	$1,543,000

The following transactions, among others, occurred during the year:

Jan.	15	Issued 1,000 shares of preferred stock for $65 cash per share.
	20	Issued 4,000 shares of common stock at $39 cash per share.
	31	Converted $22,000 face value of convertible bonds payable (the book value of the bonds is $18,500) to common stock. Each $1,000 bond converted to 25 shares of common stock.
May	18	Announced a 2-for-1 common stock split, reducing the par value of the common stock to $10 per share. The authorization was increased to 100,000 shares.
June	1	Acquired equipment with a fair market value of $40,000 in exchange for 2,000 shares of common stock.
Sept.	1	Purchased 2,500 shares of common stock as treasury stock at $23 cash per share.
Oct.	12	Sold 900 treasury shares at $28 per share.
Dec.	22	Issued 500 shares of preferred stock for $62 cash per share.
	28	Sold 1,100 of the remaining treasury shares at $19 per share.
	31	Closed net income of $85,000 to the Retained Earnings account.

Required

Prepare journal entries for the given transactions and post them to the T-accounts. Do not prepare the journal entry for the Dec. 31 transaction, but post the appropriate amount to the Retained Earnings T-account. Determine the ending balances for the stockholders equity accounts.

Prepare the stockholders equity section of the balance sheet at December 31.

Can you prepare me some journal entries, cones, and stockholder equity section