The following shareholders’ equity section was taken from the books of the Aubry Corporation at the beginning of the current year:
Common stock, $ 10 par value, 1,000,000 shares authorized,
98,950 shares issued and outstanding ……………………………… $989,500
Additional paid- in capital in excess of par – common ……………. 120,000
Additional paid- in capital from treasury stock transactions ………. 0
Retained earnings……….……….……….……….……….………. 1,545,000

Required
a. Prepare the journal entries required to record each of the following events:
• Aubry acquired 15,000 shares of common stock to be held in the treasury at a cost of $ 16 per share.
• Aubry sold 4,800 shares of treasury stock at $ 19 per share.
• Aubry sold 7,200 shares of treasury stock at $ 8 per share.
• Aubry reported a net loss of $ 367,540 for the year.
• The company declared and paid a $ 2 per share cash dividend at year- end.
b. Prepare the shareholders’ equity section at the end of the year.