The baiance sheet of Sunset, Inc, at December 31, 2017, reported 550,000 shares of $1 par common siock authortred with 110.000 ahares issued and outstanding, Paid-in capital in excess of par-common had a balance of $330,000. Retained earnings had a belance of $101,000. During 2018, the company completed the following selected transactions (Clok the ioun to view the transactions.) Read the reavirements. Requirement 1. Rocord the transactions in the joumal. Explanations are not required. (Record debils frst, then credits. Exclude erpianatons from any joumal ontries.) Feb 15: Purchased 9,000 shares of treasury stock at $10 per share. Requirements 1. Record the transactions in the journal. Explanations are not required. 2. Prepare the stockholders' equity section of the balance sheet at December 31,2018 , assuming the company earned $77,000 of net income during the year. More info Feb 15 Purchased 9,000 shares of treasury stock at $10 per share. Mar 8 Sold 7,000 shares of treasury stock for $17 per share. Sep 28 Declared and distributed a 5% stock dividend on the 108,000 shares of outstanding common stock. The market value of Sunset's common stock was $13 per share