A company provides the following information related to its stockholders' equity. 4 As of January 1: 5 Number of common shares issued 6 Number of treasury shares 7 Retained Earnings 8 9 During the current year: 600,000 34,000 $380,000 10 Additional common shares issued July 1 11 Net income 12 Dividends per share paid to shareholders in December 13 14 Required: 70,000 $130,000 $0.40 15 1. Calculate the number of shares of common stock outstanding as of December 31 (year-e 16 2. Calculate the total amount of dividends paid to shareholders. 17 3. Prepare any journal entries needed to record dividends on the following dates: 18 (a) Declaration date: December 1 19 (b) Record date: December 20 20 (c) Payment date: December 25 21 4. Calculate the balance of Retained Earnings as of December 31 (year-end). 22 23 Requirement 1: Calculate the Number of Outstanding Shares of Common Stock 24 (Use cells A2 to B12 from the given information above to complete this question.) 25 26 Beginning common shares issued 27 Additional issuances during the year 28 Treasury shares 29 Ending common shares outstanding 30 31 33 32 (Use cells A2 to B12 from the given information above to complet EU Gra