Turkey Corporation had the following stockholders' equity amounts on their balance sheet on December 31, 2020 (the end of their 8th year of business): $320,000 8,000 Preferred Stock, $40 par, 5%, 20,000 shares authorized. 8,000 shares issued and outstanding Paid in Capital in Excess of Par Common Stock, $10 par, 600,000 shares authorized, 250,000 shares Issued, 240,000 shares outstanding Paid in Capital in Excess of Par - Common Retained Earnings Treasury Stock Total Stockholders' Equity 2.500.000 3,750,000 4,000,000 300,000 $10,278,000 During 2021, Turkey completed the following transactions: March 1 Sold 6,000 shares of treasury stock for $29 per share in cash. June 1 Declared the cash dividend for the preferred stockholders. December 1 Declared a 5% stock dividend for the common stockholders when the common stock had a market value of $28 per share December 31 Reported $720,000 of net income In early 2022 Turkey called and retired 4.000 shares of preferred stock at $43 per share in cash. INSTRUCTIONS: 1. 2. 3. Prepare journal entries for the chronological stock transactions above. By what amount did each of the above transactions affect net income? By what amount did each of the above transactions affect TOTAL stockholders' equity? Based on the information above, calculate earnings per share for 2021. Please show and label your work 4