Sun Corporation received a charter that authorized the issuance of 104,000 shares of $4 par common stock and 19,000 shares of $75 par, 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation:

2018

Jan.	5		Sold 15,600 shares of the $4 par common stock for $6 per share.
	12		Sold 1,900 shares of the 5 percent preferred stock for $85 per share.
Apr.	5		Sold 20,800 shares of the $4 par common stock for $8 per share.
Dec.	31		During the year, earned $313,200 in cash revenue and paid $243,200 for cash operating expenses.
	31		Declared the cash dividend on the outstanding shares of preferred stock for 2018. The dividend will be paid on February 15 to stockholders of record on January 10, 2019.

2019

Feb.	15		Paid the cash dividend declared on December 31, 2018.
Mar.	3		Sold 2,850 shares of the $75 par preferred stock for $95 per share.
May.	5		Purchased 450 shares of the common stock as treasury stock at $8 per share.
Dec.	31		During the year, earned $253,000 in cash revenues and paid $172,600 for cash operating expenses.
	31		Declared the annual dividend on the preferred stock and a $0.50 per share dividend on the common stock.

Problem 8-23 Part a

Required

1. Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Indicating to provide separate effect on accounting equation for Revenue, Operating expense, and leave the cell blank if there is no effect.)

b. Prepare the stockholders equity section of the balance sheet at December 31, 2018.

c. Prepare the balance sheets at December 31, 2019