Tarrant Corporation was organized in 2014 to operate a financial consulting business. The charter authorized the following capital stock: common stock, par value $18 per share, 12,900 shares. During the first year, the following selected transactions were completed: a. Sold and issued 6,600 shares of common stock for cash at $36 per share. b. Sold and issued 1,200 shares of common stock for cash at $41 per share. c. At year-end, the accounts reflected income of $6,700. 9.value: 0.50 pointsRequired information Required: 1. Prepare the journal entries required for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) HintsReferenceseBook & Resources Hint #1 Check my work 10.value: 1.00 pointsRequired information 2. Prepare the stockholders equity section as it should be reported on the year-end balance sheet.