Consolidated Edison, Inc. (Con Edison), is a public utility company operating primarily in New York whose annual revenues exceed $12 billion. It reported the following December 31 simplified balances in its statement of stockholders’ equity (dollars in millions):

During the current year, Con Edison reported net income of $1,343.

Required:
1. How much did Con Edison declare in dividends for the year?
2. Assume that the only other transaction that affected stockholders’ equity during the current year was a single stock issuance for cash. Recreate the journal entry reflecting the stock issuance (in millions).

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Common stock Paid-in capital Retained earnings Current Year $ 35 8,054 11,100 Prior Year $ 34 7,117 10,728