At December 31, 2018, Creator Corporation reported the stockholders’ equity accounts shown here (with dollar amounts in millions, except per-share amounts).

Common stock $2.00 par value per share,
23 million shares issued............................. $ 46
Paid-in capital in excess of par value .......... 58
Retained earnings........................................ 285
Treasury stock, at cost ................................ (70)
Total stockholders’ equity ....................... $319

Creator’s 2019 transactions included

a. Net income, $451 million

b. Issuance of 22 million shares of common stock for $14.50 per share

c. Purchase of 10 million shares of treasury stock for $130 million

d. Sold 3 million of the treasury shares purchased in part c for $45 million

e. Declaration and payment of cash dividends of $28 million

Requirements

1. Journalize Creator’s transactions in parts b, c, d, and e. Explanations are not required.

2. What was the overall effect of these transactions (parts a through e) on Creator’s stockholders’ equity?