Problem 10-84A (Algorithmic) Statement of Stockholders' Equity At the end of 2019, Jeffco Inc. had the following equity accounts and balances: Common stock, $10 par $800,000 Additional paid-in capital-common stock 200,000 Retained earnings 279,000 During 2020, Jeffco engaged in the following transactions involving its equity accounts: a. Sold 8,000 shares of common stock for $35 per share. b. Sold 1,000 shares of 9%, $120 par preferred stock at $125 per share. c. Declared and paid cash dividends of $14,000. d. Repurchased 400 shares of treasury stock (common) for $53 per share. e. Sold 100 of the treasury shares for $59 per share. Required: 1. Prepare the journal entries for Transactions a through e 2020 a (Record sale of common stock) (Record sale of preferred stock) C. (Record declaration and payment of dividends) d. (Record purchase of treasury shares) . (Record reissue of treasury shares) 2. Assume that 2020 net income was $87,000. Prepare a statement of stockholders' equity at December 31, 2020. Jeffco, Inc Balance Sheet (Partial) December 31, 2020 Stockholders' equity: Additional paid-in capital: Total capital stock Less: Total stockholders' equity