Stockholders' Equity: Transactions and Statement The stockholders' equity section of Day Corporation's balance sheet at January 1 follows: Required a. Prepare journal entries to record the foregoing transactions. b. Prepare a statement of stockholders' equity. Net income for the year is $186,000. Statement of Stockholders' Equity Required a. Prepare journal entries to record the foregoing transactions. b. Prepare a statement of stockholders' equity. Net income for the year is $186,000