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At December 31, 2021, Northern Corporation reported the stockholders' equity accounts shown here (with dollar amounts Northern's 2022 transactions included in millions, except per-share amounts).
At December 31, 2021, Northern Corporation reported the stockholders' equity accounts shown here (with dollar amounts Northern's 2022 transactions included in millions, except per-share amounts). (Click the icon to view the transactions.) (Click the icon to view the data.) Requirements 1. Journalize Northern'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 Northern's stockholders' equity? b. Issuance of 10 million shares of common stock for $14.50 per share. More info a. Net income, $441 million b. Issuance of 10 million shares of common stock for $14.50 per share c. Purchase of 6 million shares of treasury stock for $84 million d. Sold 4 million of the treasury shares purchased in part c for $60 million e. Declaration and payment of cash dividends of $29 million Data table
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