Winterborn Manufacturing Co. completed the following transactions during 2016: (Click the icon to view the transactions.) Requirements 1. Record the transactions in Winterborn's general journal. 2. Prepare the Winterborn's stockholders' equity section of the balance sheet as of December 31, 2016. Assume that Winterborn was authorized to issue 2,400 shares of preferred stock and 500,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2016, is $2,080,000. st line of the Accounts and Requirement 1. Record the transactions in Winterborn's general journal. (Record debits first, then credits. Select the expla Explanation column and leave the remaining cells blank.) X More Info fecord is January 31, and the Jan. 16. Declared a cash dividend on the 4%, $100 par noncumulative preferred stock (950 shares outstanding). Declared payment date is February 15. Date Accounts and Explanation Debit Credit Jan. 16 Cash Dividends 41,800 Dividends PayablePreferred 3,800 Dividends Payable-Common 38,000 Jan. 16 Declared a cash dividend on the 4%, $100 par noncumulative preferred stock (950 shares outstanding). Declared a $0.40 per share dividend on the 95,000 shares of $4 par value common stock outstanding. The date of record is January 31, and the payment date is February 15. Feb. 15 Paid the cash dividends. Jun. 10 Split common stock 2-for-1. Jul. 30 Declared a 50% stock dividend on the common stock. The market value of the common stock was $10 per share. Aug 15 Distributed the stock dividend. Oct. 26 Purchased 1,400 shares of treasury stock at $9 per share. Nov. 8 Sold 700 shares of treasury stock for $11 per share. 30 Sold 500 shares of treasury stock for $6 per share. Declared a cash dividend. Feb. 15. Paid the cash dividends Date Accounts and Explanation Debit Credit Feb. 15 Dividends Payable-Preferred 3,800 Print Done Dividends Payable-Common 38.000 Fob. 15: Paid the cash dividends. Date Debit Credit Feb. 15 Accounts and Explanation Dividends PayablePreferred Dividends PayableCommon 3,800 38,000 Cash 41,800 Paid cash dividend. Jun. 10: Split common stock 2-for-1 Date Debit Credit Accounts and Explanation No entry required Jun. 10 Jul. 30: Declared a 50% stock dividend on the common stock. The market value of the common stock was $10 per share. Date Accounts and Explanation Debit Credit Jul. 30 Stock Dividends 190,000 Common Stock Dividend Distributable 190,000 Declared a 50% stock dividend. Aug. 15. Distributed the stock dividend. Date Accounts and Explanation Debit Credit Aug. 15 Common Stock Dividend Distributable 190,000 Common Stock-$2 Par Value 190,000 Issued 50% stock dividend. Oct. 26: Purchased 1,400 shares of treasury stock at $9 per share. Date Accounts and Explanation Debit Credit Oct. 26 Treasury Stock-Common 12,600 Cash 12,600 Purchased treasury stock Nov. 8: Sold 700 shares of treasury stock for $11 per share Date Accounts and Explanation Debit Credit Nov. 8 Cash 7,700 Treasury Stock-Common Paid-In Capital from Treasury Stock Transactions 6,300 1,400 Sold treasury stock above cost. Nov. 30: Sold 500 shares of treasury stock for $6 per share. Date Accounts and Explanation Debit Credit Nov. 30 Cash 3,000 Paid In Capital from Treasury Stock Transactions 1,400 Retained Earnings 100 4,500 Treasury Stock-Common Sold treasury stock below cost. Requirement 2. Prepare the Winterborn's stockholders' equity section of the balance sheet as of December 31, 2016. Assume that Winterborn was authorized to issue 2,400 shares of preferred stock and 500,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2016, is $2,080,000. (Use parentheses or a minus sign for amounts to be subtracted.) Winterborn Manufacturing, Co. Balance Sheet (Partial) December 31, 2016 Stockholders' Equity Paid-In Capital: Pielerred Slock-4%, $100 Pai Value, 2,400 shares aulhorized 950 shares issued and outstanding EA 95,000 Common Stock-$2 Par Value; 500,000 shares authorized, shares issued shares outstanding Total Paid-In Capital Retained Earnings 2,080,000 (1,000) Treasury Stock-Common; 200 shares at cost 2,743,200 Total Stockholders' Equity