At December 31, 2018, Mountain Corporation reported the stockholders' equity accounts shown here (with dollar amounts in millions, except per-share amounts). (Click the icon to view the data.) Mountain's 2019 transactions included (Click the icon to view the transactions.) Requirements 1. Journalize Mountain's transactions in parts b, c, d, and e. Explanations are not required. 2. What was the overall effect of these transactions (parts a-e) on Mountain's stockholders' equity? Requirement 1. Journalize Mountain's transactions in b, c, d, and e. Explanations are not required. (Enter amounts in millions as provided to you in the problem statement. Record debits first, then credits. Exclude explanations from any journal entries.) b. Issuance of 16 million shares of common stock for $11.50 per share. Data Table - X Journal Entry Accounts | More Info - X Date Debit Credit Common stock, $2.00 par value per share, 29 million shares issued Paid-in capital in excess of par value .... a. Net income, $448 million b. Issuance of 16 million shares of common stock for $11.50 per share c. Purchase of 10 million shares of treasury stock for $130 million d. Sold 7 million of the treasury shares purchased in partc for $105 million e. Declaration and payment of cash dividends of $30 million Retained earnings Treasury stock, at cost 346 Total stockholders' equity Print Done