Summerborn Manufacturing, Co. completed the following transactions during 2014 Requirement Record the transactions in Summerborn's general journal. Prepare the Summerborn's stockholders' equity section of the balance sheet as of December 31, 2014. Assume that Summerborn was authorized to issue 2,000 shares of preferred stock and 400,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2014, is $2, 050,000