Parker Maintenance Corporation was organized in early 2003 with 40,000 shares of no-par common stock authorized. During 2003, the following transactions occurred: Issued 17,000 shares of stock at $36 per share. Issued another 2,400 shares of stock at $38 per share. Issued 2,000 shares for a building appraised at $40,000. Declared dividends of $1 per share. Earned net income of $99,000 for the year, including $200,000 of revenues and $101,000 of expenses.

f. Closed the dividends accounts. ofa os Given this information: 1. Journalize the transactions. 2. Present the stockholders’ equity section of the balance sheet as it would appear on December 31, 2003.