Hansen Inc. engaged in the following transactions during the current year:
a. Repurchased 13,000 shares of its own $1 par common stock for $14 per share on January 14.
b. Sold 2,000 treasury shares to employees for $6 per share on January 31.
c. Repurchased 3,000 more shares of the $1 par common stock for $16 per share on July 24.
d. Sold the remaining 11,000 shares from the January 14 purchase and 1,200 of the shares from the July 24 purchase to employees for $6.50 per share on August 1.

Required:
1. Prepare journal entries for each of these transactions.
2. Determine what the effect on total stockholders’ equity is for each of the four transactions.