for $$24$ per share. On June $30,$ Knapp delores its $$1$ par value common stock December $22,$ Knapp resold $125,000$ of ther $1,$ Knapp reacquired $250,000$ of its own shares of stock for $$29$ per share. On

Required:

a$.$ Prepare all of the necessary journal entries to record the events described above.

b$.$ Prepare the stockholders' equity section of the balance sheet as of December $31,2021$ assuming that the net income for the year was $$5,000,000.$

Complete this question by entering your answers in the table below.

Required B

Prepare the stockholders' equity section of the balance sheet as of December $31,2021$ assuming that the net income for the year was $$5,000,000.$

$\backslash$table$[[$Knapp Industries,$],[$Stockholders$\text{'}$ Equity,$],[,],[,],[,],[,],[,],[,]]$