Sun Corporation received a charter that authorized the issuance of 93,000 shares of $7 par common stock and 18,000 shares of $125 par, 4 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation:

Year 1

Jan.	5		Sold 13,950 shares of the $7 par common stock for $9 per share.
	12		Sold 1,800 shares of the 4 percent preferred stock for $135 per share.
Apr.	5		Sold 18,600 shares of the $7 par common stock for $11 per share.
Dec.	31		During the year, earned $311,600 in cash revenue and paid $237,200 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 2,700 shares of the $125 par preferred stock for $145 per share.
May	5		Purchased 550 shares of the common stock as treasury stock at $14 per share.
Dec.	31		During the year, earned $247,400 in cash revenues and paid $178,300 for cash operating expenses.
	31		Declared the annual dividend on the preferred stock and a $0.50 per share dividend on the common stock.

Required

1. Organize the transaction data in accounts under an accounting equation.
2. Prepare the stockholders equity section of the balance sheet at December 31, Year 1.
3. Prepare the balance sheet at December 31, Year 2.
4. 

Oracters are not any decreases tances was nec.) SUN CORPORATION Cape De Buty Pa P E E Pre cm ind Returning DO DO 24.000 295.000 18.000. . . 51 . WS 200 DO - 5 CHEERFUL 39 . 31 00 LO- 5.000 10 0000 ODOS 7.700 D 30 0.220 1.100.450 500 2.70 CORPORATION December Complete this question by entering your answers in the tabs below. Required Required red Prepare the balance sheet December 31, Year 2. egative amounts be indicated by a mission) SUN CORPORATION Balance Sheet As of December 11, Year 2 1 Sac