. Take-Home Portion: On January 1, 2018, BYD Corporation was incorporated. The corporate charter grants BYD Corp. the right to issue 100,000 shares of $25.00 par value, 5% cumulative and nonparticipating preferred stock, and 2,000,000 shares of $1.00 par value common stock. It then completed these transactions. Jan 25 Issued 1,600,000 shares of common stock at $25 per share. Mar 1 Issued to Sanchez Corp. 65,000 shares of preferred stock for the following: o Machinery with a fair market value of $650,000 O A factory building with a fair market value of $812,500 and, o Land with an appraised value of $975,000 Jul 21 Purchased 192,000 shares of common stock at $18.75 per share using the cost method. Aug 15 Sold the 144,000 treasury shares at $30.00 per share. Dec 31 Closed the Income Summary account. There was a $33,950,000 net income. Dec 31 Declared a $1.20 per share cash dividend on the common stock and declared the preferred dividend. (a)Record the journal entries for the transactions listed above (14 points). . . (b) Prepare the stockholders' equity section of BYD Corporation's balance sheet as of December 31, 2018 (6 points)