At December 31, 2017, Blumenthall Corporation reported the shareholders' equity accounts shown here (as adapted, with dollar

Question:

At December 31, 2017, Blumenthall reported the shareholders' equity accounts shown here (as adapted, with dollar amounts in millions):
Common shares
1,800 million shares issued................................................................. $2,700
Retained earnings.................................................................................. 1,200
Total shareholders' equity................................................................... $3,900
Blumenthall's 2017 transactions included the following:
a. Net income, $350 million
b. Issuance of 6 million common shares for $12.50 per share
c. Declaration and payment of cash dividends of $25 million
Journalize Blumenthall's transactions. Explanations are not required.
Refer to Exercise 23,
Use the Blumenthall data in exercise E9-23 to prepare the shareholders' equity section of the company's at December 31, 2017.
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