1. During the year, company completed these transactions:

June 6: Purchased 5,000 sharrs of treasure stock at $39 per share.

June 25:The directors voted a $0.35 per share cash divident payable in July 25 to the July 20 stockholders of record.

july 25: Paid the dividend declared on June 23

Aug 10: Sold 2,500 of the treasure shares at $44 per share.

Oct 20:Sold 2,500 of the treasury shares at $38 per share.

Dec 15: The directors voted a $0.50 per share cash dividend payable on January 20 to the January 15 stockholders of record, and they voted a 2% stock dividend distributable on January 30 to January 20 stockholders of record. the market value of the stock was $40 per share.

Dec 31: Closed income Summary account and carried the company's $70,000 net income to Retained Earnings.

A. Prepare a retained earnings statement for the year and the stockholders' equity section of the company's year-end balance sheet.

QUESTION 2 1. At the beginning of 2021, Saban Corporation's stockholders' equity consisted of the following: 27,000 Common stock. $20 par value. 50,000 shares authorized. shares issued. Paid In capital in excess of par value common stock.. Retained earnings.. Total stockholders' equity. $540.000 140,000 130,000 $810,000