I have done Part 1, really need help with Part 2: Part 1: Prepare Journal Entries for : Journal Entries A. Issued 5500 shares of $10 par common stock at $11, receiving cash. B. Issued $ 110000 of 10 year 10% bonds at a market (effective) interest rate of 9%, with interest payable semiannually. Use the Present Value Tables in Appendix A of text book. Round all calculations to the nearest dollar. C. Declared a dividend of $0.25 per share on common stock. On date of declaration, 17600 shares of common stock were outstanding. D. Paid cash dividend from (c) above. E. Purchased 6600 shares of Jones Company for $10 per share, plus $3300 commission. Our company purchased less than 20% of the outstanding stock of Jones Company. F. Declared a 5% stock dividend on the $10 par common stock when the market price was $ 25 per share. There were 17600 Shares outstanding. G. Distributed the stock dividends declared in (F). H. Purchased $5000 of 5% bonds at par. Interest is payable semiannually. I. Purchased 330 shares of treasury common stock for $12 per share. J. Received semiannual interest from bonds purchased in (H). K. Received a total cash dividend of $660 from Jones Company. L. Received a $1100 dividend from our investment in Masco Company stock. This investment is accounted for under the equity method. M. Sold, at $17 per share, 165 shares of treasury common stock purchased in (I). N. Sold 1320 shares of Jones company stock purchased in (E) for $13 per share, including commission. O. Masco Company's total earnings are $55000. We own 40%. Record the earnings for our company using the equity method. P. Sold the bonds purchased in (H) at 103 plus $63 in accrued interest. Q. At the end of the accounting period, the remaining shares of Jones Company stock increased $2.00 per share R. Record the payment of semiannual interest on the bonds issued in (B) and the amortization of the premium for six months. The amortization is determined using the straight-line method. Part 2: Prepare a multistep income statement, a statement of stockholders' equity, and a classified balance sheet in good form for the year ended December 31, 20X1. that includes all journal entries made above EXCEPT ending Shareholders Equity. Cash $330,000 Accounts receivable $219,000 Allowance for doubtful accounts $11,000 Equity Investments at cost $55,000 Valuation allowance for Equity Investments $5,500 Merchandise inventory at lower of cost (FIFO) or market $22,000 Prepaid expenses $3,300 Interest receivable $2,200 Investment in Masco Company stock $16,500 Store buildings and equipment $335,500 Accumulated depreciationstore buildings and equipment $165,000 Accounts payable $95,890 Income tax payable $2,000 Bonds payable, 10%, due in 10 years $110,000 Premium on bonds payable $5,500 Retained earnings, January 1, 20X1 $250,855 Cash dividends , January 1, 20X1 balance $0 Stock Dividends, January 1, 20X1 balance $0 Common stock, $10 par (100,000 shares authorized; 12100 shares outstanding), January 1, 20X1 $121,000 Paid-in capital in excess of parcommon stock, January 1, 20X1 $12,100 Paid-in capital from sale of treasury stock, January 1, 20X1 $0 Treasury stock, January 1, 20X1 $0 Sales $770,000 Gain from sale of investment $1,100 Unrealized gain(loss) on Equity Investments $10,560 Dividend revenue $880 Interest revenue $2,970 Income of Masco Company $22,000 Cost of goods sold $440,000 Advertising expense $11,000 Depreciation expensestore buildings and equipment $7,700 Miscellaneous selling expenses $5,500 Sales commissions $22,000 Office rent expense $55,000 Office salaries expense $66,000 Miscellaneous administrative expenses $1,100 Interest expense $5,500 Income tax expense $44,000