Sun Corporation received a charter that authorized the issuance of 100,000 shares of $10 par common stock and 50,000 shares of $50 par, 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation: Year 1 Jan. 5 sold 6,000 abares of the $10 par common stock for $15 per share. 12 Sold 1,000 abares of the 5 percent preferred atook for $55 per share. Apr. 5 sold 30,000 sharen of the $10 par cocmon atock for $21 per share. Dee.31 During the year, earned $150,000 in caeh revenue and paid $88,000 for cash operating expentes. 31 Deolared the caob dividend on the outstanding shares of preferred otook for Yoar 1. The dividend vil1 be paid on tebruary 15 to itoekholderi of record on January 10 , Year 2. Year 2 Peb.15 paid the eaah dividend declared on December 31 , Year 1. Mar. I Sold 15,000 obares of the $50 par preferred ltock for 553 per share. May 5 Purehaned 900 sharen of the common ntook as treasury atock at 324 per share. Dec.31 buring the year, earned $210,000 in cash revenues and paid $98,000 tor canb operating oxpenses. 31 beolared the annual dividend on the preterred atook and a 50.50 per thare dividend on the comnon atoek. Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare the stockholders' equity section of the balance sheet at December 31, Year 1 . c. Prepare the balance sheet at December 31, Year 2. Complete this question by entering your answers in the tabs below. Prev 5 of 5 Next ? Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet at December 31 , SUN CORPORATION Prev 5 of 5