E10-23A. (Learning Objective 6: Report stockholders equity after a sequence of transactions) Use the Harelik Corporation data in E10-22A to prepare the stockholders equity section of the companys balance sheet at December 31, 2015.

E10-22A. (Learning Objectives 2,3,4: Account for issuance of stock; show how treasury stock affects a company; account for dividends) At December 31, 2014, Harelik Corporation reported the stockholders' equity accounts shown here (with dollar amounts in millions, except per-share amounts). (85) Common stock $1.50 par value per share, 2,400 million shares issued......... $ 3,600 Paid-in capital in excess of par value.. 7,200 Retained earnings...... 1,490 Treasury stock, at cost. Total stockholders' equity. $12,205 Harelik's 2015 transactions included a. Net income, $380 million b. Issuance of 18 million shares of common stock for $12.00 per share c. Purchase of 8 million shares of treasury stock for $120 million d. Sold 5 million of the treasury shares purchased in part c for $80 million e. Declaration and payment of cash dividends of $24 million Requirements 1. Journalize Harelik's transactions in parts b, c, d, and e. Explanations are not required. 2. What was the overall effect of these transactions (parts a through e) on Harelik's stockholders' equity? E10-23A. (Learning Objective 6: Report stockholders'equity after a sequence of transactions) Use the Harelik Corporation data in E10-22A to prepare the stockholders' equity section of the company's balance sheet at December 31, 2015