It would be great if you could show your work on excel if possible.

Treasury Stock: Par Value and Cost Methods The stockholders' equity of Thomas Company as of December 31, 2014, was as follows: Common stock $1 par, authorized 275,000 shares; 240,000 shares issued and outstanding... $ 240,000 Paid-in capital in excess of par 3,840.000 Retained earnings........ 900.000 On June 1, 2015, Thomas reacquired 15,000 shares of its common stock at $16. The following transactions occurred in 2015 with regard to these shares. July 1 Sold 5,000 shares at $20. Aug. 1 Sold 7,000 shares at $14. Sept. 1 Retired 1,000 shares. 1. Using the cost method to account for treasury stock: (a) Prepare the journal entries to record all treasury stock transactions in 2015. (b) Prepare the Stockholders' Equity section of the balance sheet at December 31, 2015, assuming Retained Earnings of $1,005,000 (before the effects of treasury stock transactions