Clemson Company had the following stockholders’ equity as of January 1, 2012.

Common stock, $5 par value, 20,000 shares issued     $100,000
Paid-in capital in excess of par—common stock           300,000
Retained earnings                                                           320,000
    Total stockholders’ equity                                         $720,000

During 2012, the following transactions occurred.

Feb. 1 Clemson repurchased 2,000 shares of treasury stock at a price of $19 per share.
Mar. 1 800 shares of treasury stock repurchased above were reissued at $17 per share.
Mar. 18 500 shares of treasury stock repurchased above were reissued at $14 per share.
Apr. 22 600 shares of treasury stock repurchased above were reissued at $20 per share.

Instructions
  (a) Prepare the journal entries to record the treasury stock transactions in 2012, assuming Clemson uses the cost method.
  (b) Prepare the stockholders’ equity section as of April 30, 2012. Net income for the first 4 months of 2012 was $130,000.