Prepare a statement of cash flows, using the indirect method. Include all required disclosures. 3. On January 1, 2021, the stockholders' equity section of Jayhawk Corporation's balance sheet showed the following Preferred stock, $100 par value, 5%, 50,000 shares authorized. 5.000 shares issued and outstanding Additional Paid-in-Capital, Preferred Stock $500,000 100,000 Common stock, $3 par value, 500,000 shares authorized, 20,000 shares issued and outstanding 60,000 Additional Paid-in-Capital, Common Stock 250,000 Total Contributed Capital 910,000 Retained Earnings 320,000 Total Stockholders' Equity $1,230,000 During the year, 2021, the following transactions occurred: February 2 for $22 per share. April 15 $125 per share. July 10 Issued 2,000 shares of common stock Issued 1,000 shares of preferred stock for Repurchased 500 shares of common stock (treasury stock) at $20 per share. Required: a. Prepare journal entries to record the above transactions. b. Assume that net income was $205,000 and dividends of $30,000 were declared and paid. Prepare the stockholders' equity section of the balance sheet at December 31, 2021.