The MLC Corporation had the following equity accounts at the beginning of 2016: Common stock, $2 par value, 400,000 shares authorized Paid-in capital in excess of par value Retained earnings S 200,000 90,000 Total stockholders' equity $1,030.000 The following transactions occurred during 2016 Date Transactions 2/1 Declared a SI dividend per share 3/2 Paid the cash dividend declared on February 1 5/12 Authorized a 2-for-1 stock split 9/9 Purchased 10,000 shares of common stock for the treasury at a cost of $11 per share 10/19 Declared a10% common stock dividend. The market value on the date of declaration was $10 per share. 11/12 Issued the shares for the stock dividend declared on October 19. 12/31 Reported a net loss of $120,000 for the year. 44r0 REQUIRED a) Prepare journal entries to record these transactions (56 Pts) b Betie the stockholdess'efuity Section o f MLC Corpotatien s balance sheet as 12/3/ 2a16