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Bright Computer Systems reported the following shareholders' equity section as of the beginning of the current year: (Click the icon to view the data.) Bright Computer issued 100,000 shares of its $0.60 par common stock during the year. The market price of the shares on the date of issue was $52 per share. The company paid $86,000 in underwriting fees to issue the shares. Bright reported $6,900,000 in net income for the year and declared and paid dividends of $7 per share at year end. Read the requirements. Stockholders' Equity Contributed Capital: Common Stock, $0.60 par value, 1,100,000 shares authorized, 200,000 shares issued, and 176,800 shares outstanding $ 120,000 10,100,000 Additional Paid-in Capital in Excess of Par - Common $ 10,220,000 Total Contributed Capital Retained Earnings Accumulated Other Comprehensive Income (Loss) $ 20,100,000 (450,000) (928,000) Less: Treasury Stock (23,200 common shares at cost) Total Stockholders' Equity $ 28,942,000 a. Prepare the entry to record the new stock issue. b. Prepare the journal entries required to record the declaration and payment of the cash dividend. Prepare the stockholders' equity section of the balance sheet at the end of C. the year