The stockholders equity section of Piper Corporation's balance sheet at December 31, 2019, appears below: Stockholders' equity Paid-in capital Common stock, $10 par value, 400,000 shares authorized; 300,000 issued and outstanding $3,000,000 Paid-in capital in excess of par 1.200.000 Total paid-in capital 4,200,000 Retained earnings 900.000 Total stockholders' equity $5.100.000 During 2020, the following stock transactions occurred: Jan. 18 Issued 80,000 shares of common stock at $23 per share. Aug 20 Purchased 20,000 shares of Piper Corporation's common stock at $25 per share to be held in the treasury. Instructions (a) Prepare the journal entries to record the above stock transactions fomit explanations). (b) Prepare the stockholders' equity section of the balance sheet for Piper Corporation at December 31, 2020. Assume that net income for the year was $150,000 and that no dividends were declared