Sun Corporation received a charter that authorized the issuance of 102,000 shares of $4 par common stock and 20,000 shares of $100 par, 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation.

Year 1

Jan.	5		Sold 15,300 shares of the $4 par common stock for $6 per share.
	12		Sold 2,000 shares of the 5 percent preferred stock for $110 per share.
Apr.	5		Sold 20,400 shares of the $4 par common stock for $8 per share.
Dec.	31		During the year, earned $313,100 in cash revenue and paid $241,600 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 $100 par preferred stock for $120 per share.
May.	5		Purchased 450 shares of the common stock as treasury stock at $8 per share.
Dec.	31		During the year, earned $247,400 in cash revenues and paid $174,600 for cash operating expenses.
	31		Declared the annual dividend on the preferred stock and a $0.50 per share dividend on the common stock.

Required a. Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Not all cells require input.)

b. b. Prepare the balance sheets at December 31, Year 1 and Year 2. (Amounts to be deducted should be indicated with minus sign.)