The following transactions and events affected its equity during the year. Prepare the journal entry necessary to record each event, and then agree the year-end balances with the December 31 Stockholders' Equity statement given above. The equity sections for Upperchurch Group at the beginning of the year (January 1) and end of the year (December 31) follow.

Stockholders Equity (January 1)
Common stock$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding	$ 500,000
Paid-in capital in excess of par value, common stock	75,000
Retained earnings	410,000
Total stockholders equity	$ 985,000

Stockholders Equity (December 31)
Common stock$10 par value, 130,000 shares authorized, 55,520 shares issued, 4,000 shares in treasury	$ 555,200
Paid-in capital in excess of par value, common stock	141,240
Retained earnings ($80,000 restricted by treasury stock)	740,000
	1,436,440
Less cost of treasury stock	(80,000)
Total stockholders equity	$ 1,356,440

The following transactions and events affected its equity during the year.

January 5	Declared a $1.80 per share cash dividend, payable on January 10.
March 20	Purchased treasury stock for cash.
April 5	Declared a $1.80 per share cash dividend, payable on April 10.
July 5	Declared a $1.80 per share cash dividend, payable on July 10.
July 31	Declared a 12% stock dividend when the stocks market value was $22 per share.
August 14	Issued the stock dividend that was declared on July 31.
October 5	Declared a $1.80 per share cash dividend, date of record October 10.