Stockholders' Equity Transactions, Journal Entries, and T-Accounts The stockholders' equity of Fremantle Corporation at January 1 follows: The following transactions, among others, occurred during the year: Jan. 1 Announced a 2 -for-1 common stock split, reducing the par value of the common stock to $1.50 per share. Mar. 31 Converted $60,000 face value of convertible bonds payable (the book value of the bonds was $63,000 ) to common stock. Each $1,000 bond converted to 125 shares of common stock. June 1 Acquired equipment with a fair market value of $50,000 in exchange for 300 shares of preferred stock. Sept. 1 Acquired 10,000 shares of common stock for cash at $25 per share. Nov. 21 issued 5,000 shares of common stock at $27 cash per share. Dee 28 Sold 1,000 treasury shares at \$28 per share. 31 Closed net income of $105,000, to the Retained Earnings account. The following transactions, among others, occurred during the year: Jan. 1 Announced a 2 -for-1 common stock split, reducing the par value of the common stock to $1.50 per share. Mar. 31 Converted $60,000 face value of convertible bonds payable (the book value of the bonds was $63,000 ) to common stock. Each $1,000 bond converted to 125 shares of common stock. June 1 Acquired equipment with a fair market value of $50,000 in exchange for 300 shares of preferred stock. Sept. 1 Acquired 10,000 shares of common stock for cash at $25 per share. Nov. 21 issued 5,000 shares of common stock at $27 cash per share. Dec. 28 Sold 1,000 treasury shares at $28 per share. 31 Closed net income of $105,000, to the Retained Earnings account. Required a. Set up T-accounts for the stockholders' equity accounts as of the beginning of the year and enter the January 1 balances. HINT: Complete part b. below prior to entering any additional T-account data. a. Set up T-accounts for the stockholders' equity accounts as of the beginning of the year and enter the january 1 balances. HINT: Complete part b. below prior to entering any additional T-account data. b. Prepare journal entries for the given transactions and post them to the T-accounts above in part a. 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