The balance sheet of Sanchez, Inc., at December 31, 2017, reported 400,000 shares of $3 par common stock authorized with 110,000 shares issued and outstanding. Paid-in capital in excess of parcommon had a balance of $312,000. Retained earnings had a balance of $105,000. During 2018, the company comple 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 12,000 shares of treasury stock at $10 per share. Journal Entry Date Accounts Debit Credit More info Feb 15 Feb 15 Purchased 12,000 shares of treasury stock at $10 per share. Mar 8 Sold 11,000 shares of treasury stock for $17 per share. Sep 28 Declared and distributed a 5% stock dividend on the 109,000 shares of outstanding common stock. The market value of Sanchez's common stock was $11 per share. Mar 8: Sold 11,000 shares of treasury stock for $17 per share. Journal Entry Date Accounts Debit Credit Mar Print Done 8 Sep 28: Declared and distributed a 5% stock dividend on the 109,000 shares of outstanding common stock. The market value of Sanchez's common stock was $11 per share. Journal Entry Date Accounts Debit Credit Sep 28 Requirement 2. Prepare the stockholders' equity section of the balance sheet at December 31, 2018, assuming the company earned $80,000 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: More info Feb 15 Purchased 12,000 shares of treasury stock at $10 per share. Mar 8 Sold 11,000 shares of treasury stock for $17 per share. Sep 28 Declared and distributed a 5% stock dividend on the 109,000 shares of outstanding common stock. The market value of Sanchez's common stock was $11 per share. Print Done Total stockholders' equity