Please answer the following questions based on the problem bellow

2 PR 12-4A Entries for selected corporate transactions Obj. 2, 3, 4, 6 Morrow Enterprises Inc. manufactures bathroom fixtures. Morrow Enterprises' stockholders' equity accounts, with balances on January 1, 2076, are as follows: EXCEL TEMPLATE GENERAL LEDSEN $ 7,500,000 Common Stock, $20 stated value (500,000 shares authorized, 375,000 shares issued) Paid In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (25,000 shares, at cost) 825,000 33,600,000 450,000 The following selected transactions occurred during the year: Jan. 22. Paid cash dividends of $0.08 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $28,000. Apr. 10. Issued 75,000 shares of common stock for $24 per share. June 6. Sold all of the treasury stock for $26 per share. July 5. Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per share. Aug. 15. Issued shares of stock for the stock dividend declared on July 5. Nov. 23. Purchased 30,000 shares of treasury stock for $19 per share. Jan. 22. Paid cash dividends of $0.08 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $28,000. Apr. 10. Issued 75,000 shares of common stock for $24 per share. June 6. Sold all of the treasury stock for $26 per share. July 5. Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per share. Aug. 15. Issued shares of stock for the stock dividend declared on July 5. Nov. 23. Purchased 30,000 shares of treasury stock for $19 per share. Dec. 28. Declared a $0.10-per-share dividend on common stock. 31. Closed the credit balance of the income summary account, $1,125,000 Closed the two dividends accounts to Retained Earnings. 31. Instructions 1. Enter the January 1 balances in T accounts for the stockholders' equity accounts listed. Also prepare T accounts for the following: Paid-In Capital from Sale of Treasury Stock; Stock Dividends Distributable; Stock Dividends; Cash Dividends. 2. Journalize the entries to record the transactions, and post to the eight selected accounts, 3. Prepare a retained earnings statement for the year ended December 31, 20Y6. 4. Prepare the Stockholders' Equity section of the December 31, 20Y6, balance sheet. Question 1 (10 points) Based upon stockholders' equity accounts at 1/1/Y6, the number of shares of common stock outstanding is Question 2 (10 points) Based upon stockholders' equity accounts at 1/1/46, the total stockholders' equity would be $ Question 3 (10 points) To journalize the June 6 transaction, treasury stock would be decreased (credited) for $ Question 4 (10 points) To journalize the April 10 transaction, Common Stock would be increased (credited) by $ Question 5 (10 points) To journalize the November 23 transaction, Treasury Stock would be increased (debited) by $ Question 6 (10 points) The dividend declared on December 28 is a dividend. Fill in the blank with cash or stock. Question 7 (10 points) On the retained earnings statement at 12/31/Y6, ending retained earnings is computed to be $ Question 8 (10 points) In the stockholders' equity section of the 12/31/Y6 balance sheet, the reported number of shares of common stock issued is Question 9 (10 points) Based on the stockholders' equity at 12/31/86, the number of shares of common stock outstanding is Question 10 (10 points) Total stockholders' equity would be reported on the 12/31/Y6 balance sheet at $