The balance sheet of Morrisey Management Consulting, Inc., at December 31, 2017, reported the following stockholders' equity: During 2018, Morrisey completed the following selected transactions. Feb 6 Distributed a 10% stock dividend on the common stock. The market value of Morrisey's stock was $25 per share. July 29 Purchased 2,000 shares of treasury stock at $25 per share. Nov 27 Declared a $0.30 per share cash dividend on the 20,000 shares of common stock outstanding. The date of record is December 17, and the payment date is January 7, 2019. Dec 31 Closed $86,000 net income from Income Summary to Retained Earnings. Instructions 1 Record the transactions in the general journal 2. Prepare a retained earnings statement for the year ended December 31, 2018 3. Prepare the stockholders' equity section of the balance sheet as of December 31, 2018