Sun Corporation received a charter that authorized the issuance of 91,000 shares of $4 par common stock and 21,000 shares of $125 par, 6 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation:

Year 1

Jan.	5		Sold 13,650 shares of the $4 par common stock for $6 per share.
	12		Sold 2,100 shares of the 6 percent preferred stock for $135 per share.
Apr.	5		Sold 18,200 shares of the $4 par common stock for $8 per share.
Dec.	31		During the year, earned $311,100 in cash revenue and paid $236,800 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 3,150 shares of the $125 par preferred stock for $145 per share.
May	5		Purchased 450 shares of the common stock as treasury stock at $8 per share.
Dec.	31		During the year, earned $248,700 in cash revenues and paid $173,900 for cash operating expenses.
	31		Declared the annual dividend on the preferred stock and a $0.75 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.