495 Chapter 11 Reporting and Analyzing Equity Balthus Corp. reports the fo llowing components of stockholders' equity on December 31, Problem 11-2B Cash dividends, treasury stock, and statement of retained earnings C3 P2 P3 Common stock-$1 par value, 320,000 shares authorized Paid-in capital in excess of par value, common stock .. Retained earnings. Total stockholders' equity $ 200,000 1,400,000 2,160,000 $3,760,000 It completed the following transactions related to stockholders' equity in year 2018. Jan. 10 Mar. Purchased 40,000 shares of its own stock at S12 cash per share. 2 Directors declared a $1.50 per share cash dividend payable on March 31 to the March 15 stock- holders of record. Paid the dividend declared on March 2. Mar. 31 Nov. 11 Nov. 25 Dec. 1 Sold 24,000 of its treasury shares at $13 cash per share. Sold 16,000 of its treasury shares at $9.50 cash per share. Directors declared a $2.50 per share cash dividend payable on January 2 to the December 10 stockholders of record. Closed the S1,072,000 credit balance (from net income) in the Income Summary account to Retained Earnings Dec. 31 Required 1. Prepare journal entries to record each of these transactions for 2018. 2. Prepare a statement of retained earnings for the year ended December 31, 2018. 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2018. Dec. 31, 2018,52,476.000 Check (21 Retained earnings At December 31, the end of Chilton Communication's third quarter, the following stockholders' equity Problem 11-3B accounts are reported. Equity analysis-journal entries and account balances $ 960,000