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Sun Corporation received a charter that authorized the issuance of 103,000 shares of $5 par common stock and 20,000 shares of $125 par, 6 percent cumulative preferred stock. Sun Corporation completed the following transactions during its first two years of operation: Year 1 Jan. 5 Sold 15,450 shares of the $5 par conson stock for $7 per share. 12 Sold 2,000 shares of the 6 percent preferred stock for $135 per share. Apr. 5 Sold 20,600 shares of the $5 par common stock for $9 per share. Dec.31 During the year, earned $311,600 in cash revenue and paid $243,300 for cash operating expenses. 31 Declared the cash dividend on the outstanding shares of preferred stock for Year 1. The dividend will be paid on February 15 to stockholders of record on January 16, Year 2. Year 2 Feb.15 Paid the cash dividend declared on Decenber 31, Year 1. Mar. 3 Sold 3,000 shares of the $125 par preferred stock for $145 per share. May 5 Purchased 500 shares of the common stock as treasury stock at 510 per share. Dec. 31 During the year, earned $247,200 in cash revenues and paid $173,300 for cash aperating expenses. 31 Declared the annual dividend on the preferred stock and a $0.50 per share dividend on the common stock. Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare the stockholders' equity section of the balance sheet at December 31, Year 1 . c. Prepare the balance sheet at December 31 , Year 2 . Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the balance sheet at December 31 , Year Prenare the balance sheet at Deromher 21 Vear? INenative amaiint ehandit ha indianted by

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