Sun Corporation received a charter that authorized the issuance of $82,000$ shares of $$4$ par common stock and $20,000$ shares of $$125$ par, $7$ percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation:

Year $1$

Jan. $5$ Sold $12,300$ shares of the $$4$ par common stock for $$6$ per share.

$12$ Sold $2,000$ shares of the $7$ percent preferred stock for $$135$ per share.

Apr. $5$ Sold $16,400$ shares of the $$4$ par common stock for $$8$ per share.

Dec. $31$ During the year, earned $$304,600$ in cash revenue and paid $$241,900$ for cash operating expenses.

$31$ Declared the cash dividend on the outstanding shares of preferred stock for Year $1.$ The dividend will be paid on February $15$ to stockholders of record on January $10,$ Year $2.$

Year $2$

Feb. $15$ Paid the cash dividend declared on December $31,$ Year $1.$

Mar. $3$ Sold $3,000$ shares of the $$125$ par preferred stock for $$145$ per share.

May $5$ Purchased $400$ shares of the common stock as treasury stock at $$8$ per share.

Dec. $31$ During the year, earned $$252,100$ in cash revenues and paid $$175,800$ for cash operating expenses.

$31$ Declared the annual dividend on the preferred stock and a $$0\mathrm{.}50$ per share dividend on the common stock.

Required

Organize the transaction data in accounts under an accounting equation.

Prepare the stockholders$$ equity section of the balance sheet at December $31,$ Year $1.$

Prepare the balance sheet at December $31,$ Year $2.$