The balance sheet of Entertainment, Inc., at December 31, 2017, reported 850,000 shares of $2 par common stock authorized with 120,000 shares issued and outstanding. Paid-in capital in excess of parcommon had a balance of $310,000. Retained earnings had a balance of $109,000. During 2018, the company completed the following selected transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Feb 15: Purchased 5,000 shares of treasury stock at $4 per share. Journal Entry Date Accounts Debit Credit Feb 15 Treasury stock 20,000 Cash 20,000 Mar 8: Sold 4,000 shares of treasury stock for $12 per share. Journal Entry Date Accounts Debit Credit Mar 8 Cash 48,000 16,000 Treasury stock Paid-in capital, treasury stock 32,000 Date Accounts Debit Credit Sep 83,300 28 Retained earnings Common stock 11.900 Paid-in capital in excess of par-common 71,400 Requirement 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2018, assuming the company earned $111.000 of net income during the year. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Stockholders' Equity Paid-in capital: Common stock, $2 par, shares issued 850,000|| shares authorized, shares outstanding Paid-in capital in excess of par-common 103,400 32.000 Paid-in capital - treasury stock Total paid-in capital Retained earnings Less: Treasury stock shares at cost Total stockholders' equity