sury P13-2A Brandon Corporation had the following stockholders' equity accounts on January 1, 2012: Prepare Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par-Common Stock $200,000, and kion. Retained Earnings $100,000. In 2012, the company had the following treasury stock transactions. Mar. 1 Purchased 5,000 shares at $9 per share. June 1 Sold 1,000 shares at $12 per share. Sept. 1 Sold 2,000 shares at $10 per share. Dec. 1 Sold 1,000 shares at $6 per share. Brandon Corporation uses the cost method of accounting for treasury stock. In 2012, the com- pany reported net income of $30,000. Instructions (a) Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2012, for net income. 9,000 (b) Open accounts for (1) Paid-in Capital from Treasury Stock.(2) Treasury Stock, and (3) Retained ers' equity Earnings. Post to these accounts using J10 as the posting reference. (c) Prepare the stockholders' equity section for Jacobsen Corporation at December 31, 2012