2. Whiplash, Co. reported the following information from the Stockholders Equity section of their balance sheet as of January 1, 2021: Common Stock: $15,000 ($0.20 par value; 900,000 shares authorized, 75,000 shares issued and outstanding as of 1/1/21); Additional Paid-in Capital: $2,468,990; Retained Earnings: $571,673

During the year 2021, Whiplash completed these transactions that affected Stockholders Equity:

• On March 25^th, issued 5,000 shares of Common Stock for $30 per share.
• On June 13^th, issued 3,500 shares of Common Stock for $33 per share.
• On June 30^th, declared a cash dividend of $0.10 per common share, payable to all stockholders of record on July 15^th.
• On July 31^st, paid the cash dividend declared on June 30^th.
• On September 25^th, reacquired 6,000 shares of common stock as Treasury Stock, paying $23 per share.

1. Calculate the number of shares of Common Stock that would be outstanding as of the date of record, July 15, 2021. Show all calculations.

2. Calculate the number of shares of Common Stock that would be outstanding as of December 31, 2021. Show all calculations.

3. Record all the journal entries for Whiplashs 2021 transactions listed above. Show all calculations.

4. Taking into account all of the information and all of the transactions above, prepare a Statement of Stockholders Equity for Whiplash for the year ended December 31, 2021. Use the format used in the pre-recorded lecture videos and also provided in your e-text, Illustration 10-20. Assume net income for 2021 was $119,450.

5. Taking into account all of the information and all of the transactions above, prepare the Stockholders Equity Section of the Balance Sheet as of December 31, 2021. Use the format used in the pre-recorded lecture videos and also provided in your e-text, Illustration 10-19. Assume net income for the year ended 2021 was $119,450.