Metlock Company reported the following amounts in the stockholders’ equity section of its December 31, 2024, balance sheet.

Preferred stock, 10%, $100 par (10,000 shares authorized, 2,200 shares issued) $220,000
Common stock, $5 par (95,500 shares authorized, 19,100 shares issued) 95,500
Additional paid-in capital 136,000
Retained earnings 455,000
Total $906,500

During 2025, Metlock took part in the following transactions concerning stockholders’ equity.

1. Paid the annual 2024 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2024.
2. Purchased 1,700 shares of its own outstanding common stock for $42 per share. Metlock uses the cost method.
3. Reissued 800 treasury shares for land valued at $34,600.
4. Issued 460 shares of preferred stock at $105 per share.
5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $45 per share.
6. Issued the stock dividend.
7. Declared the annual 2025 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2026.
a) Prepare journal entries to record the transactions described above. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
b) Prepare the December 31, 2025, stockholders’ equity section. Assume 2025 net income was $314,000. (Enter account name only. Do not provide any descriptive information.)