Sun Corporation recelved a charter that authorized the issuance of 115.000 shares of $6 par common stock and 20.000 shares of $75 pat, 5 percent cumulative preferred stock. Sun Corporation completed the folloving transactions during its first two years of operation: Year 1 Jan. 5 sold 17,250 shares of the 36 par cownon stock for 58 per share. 12 sold 2, ece shares of the 5 percent preferred stock. for sis per share. Apr. 5 sold 23 , doe shares of the 96 par conton stock for 310 per share, Dec.31 buring the year, earned 3312 , 400 in cash revenue and paid 5240,960 for cash operating empenses. 11 Declared the cash dividend on the outstanding shaces of preferred stock for Year 1 The dividend mil1 be paid on fabruary 15 to stockholders of record on January 1e, Year 2 . Year 2 feb. 15 Paid the cash dividend declared on Decenber 31, Year 1 , Nar. 3 sold 3,00e shares of the 575 par preferred stock for 595 per share. May 5 Purchased 40 shares of the common stock as treasury stock at 512 per share. Dec.31 During the year, eamed $259, gee in cash revenues and paid 3175,409 for cash operating experises. 31 Declared the annal dividend on the preferred stock and a se.5e per share dividend on the coneon stock. 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. Prepare the stockholders' equity section of the balance sheet at December 31. Year 1. Sun Corporation received a charter that authorized the issuance of 115,000 shares of $6 par common stock and 20.000 sis operation: par, 5 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operations Year 1 3an. S sold 17,25e stares of the 56 par comon stock for $5 per share. 22 sold 2,eoe stares of the 5 percent prefeered stock for 585 per thare. Aor. 5 Sold 23 , eee shares of the 56 par comon stock for 310 per sharel. Dec.31 buring the year, eamed $312,460 in cash revenue and paid \$24e, 26e for cash operating expenses. 31 beclared the cash dividend on the outstanding shares of preferred stock for year 1 . The dividend will be paid on february 15 to steckholders of record on January 15 , year 2 . Yeor 2 feb. 15 Paid the cash dividend declared on becenter 31, Year 1. par. 3 sold 3,000 shares of the $75 par preferred stock for $95 per share. way 5 purchased 400 stares of the comon stock as treasury stock at 512 per share. Dec.31 During the year, earned \$2se, eve in cash revenues and pald s175,400 for cast operating expenses. 31 beclared the anmal dividend on the preferred stock and a se. Se per stare dividend on the compon stock. Required 0. 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. Prepare the balance sheet at December 31. Year 2. (Negative amount should be indicated by a minus sign.) Sun Corporation received a charter that authorized the istuance of 115,000 shares of 95 par comprion stock and 20,000 shares of 575 pat, 5 percent cumulative preferred stock. Sun Corporation completed the following tronsactons during its first two years of aperation? Yeor 1 Jan. 3 sold 17, 2se stanes of the 30 par conen stock for $1 pech share. 12 5old 2,600 thares of the 5 percent preferred stock for 3sis per thare. Apr. 5 Sold 21 , ewe shares of the 30 par comon stock for s1e per thare. 15 to itocithelders of record on zantary 10, Year 2. Year 2 feb.15 Paid the cath dividend declared on becenter 11 , year 2. Por. I sold 3,000 thares of the s73 par preferred stock for 195 per share. tay 5 furchased see shares of the connon stock as treasury stock at 312 per shace 31 Declared the annosal dividend on the preferred stock and a 30.90 per sthare dividend on the conon stock. 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. Organise the transaction data in accounts under an accounting equabion. (Enter any decreases to account balances with a minus sigh. If there b an erf the account title. Lexve the coll tiank if there is no effect.)