At December 31, 2016, Sidestep Corporation reported the stockholders' equity accounts shown here (with dollar amounts in millions, except per-share amounts).
Common stock $ 1.00 par value per share,
26 million shares issued........................................$ 26
Paid-in capital in excess of par value...........................91
Retained earnings................................................270
Treasury stock, at cost........................................ .(40)
Total stockholders' equity....................................$347
Sidestep's 2017 transactions included
a. Net income, $446 million
b. Issuance of 6 million shares of common stock for $12.50 per share
c. Purchase of 11 million shares of treasury stock for $121 million
d. Sold 5 million of the treasury shares purchased in part c for $60 million
e. Declaration and payment of cash dividends of $36 million
Requirements
1. Journalize Sidestep's transactions in parts b, c, d, and e. Explanations are not required.
2. What was the overall effect of these transactions (parts a-e) on Sidestep's stockholders' equity?