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Requirements Record the transactions in Halborn's general journal. 1. 2. Prepare the Halborn's stockholders' equity section of the balance sheet as of December 31, 2018. Assume that Halborn was authorized to issue 1,800 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, 2018, is $2,080,000 Print Done Jan. 16: Declared a cash dividend on the 4%, $100 par noncumulative preferred stock (950 shares outstanding). Declared a $0.20 per share dividend on the 105,000 shares of $8 par value common stock outstanding The date of record is January 31, and the payment date is February 15. Accounts and Explanation Date Debit Credit Jan. 16 Feb. 15: Paid the cash dividends. Credit Date Accounts and Explanation Debit Feb. 15 Jun. 10: Split common stock 2-for-1. Accounts and Explanation Credit Date Debit Jun. 10 Jul. 30: Declared a 30% stock dividend on the common stock. The market value of the common stock was $11 per share. Accounts and Explanation Date Debit Credit Jul. 30 Aug. 15: Distributed the stock dividend. Accounts and Explanation Date Debit Credit Aug 15 Oct. 26: Purchased 8,000 shares of treasury stock at $9 per share. Date Accounts and Explanation Debit Credit Oct. 26 Nov. 8: Sold 4,000 shares of treasury stock for $10 per share. Accounts and Explanation Date Debit Credit Nov. 8 Nov. 30: Sold 1,400 shares of treasury stock for $5 per share Date Accounts and Explanation Debit Credit Nov. 30 Requirement 2. Prepare the Halborn's stockholders' equity section of the balance sheet as of December 31, 2018. Assume that Halborn was authorized to issue 1,800 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, 2018, is $2,080,000. (Use parentheses or a minus sign for amounts to be subtracted.) Halborn Manufacturing, Co. Balance Sheet (Partial) Halborn Manufacturing, Co. Balance Sheet (Partial) December 31, 2018 Stockholders' Equity Paid-In Capital: Total Paid-In Capital Total Stockholders' Equity

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