At the beginning of 2018, Thompson Service, Inc. showed the following amounts in the stockholders' equity section of its balance sheet Stockholders' equity! Capital stock, 51 par value, 500,000 shares authorized, 382, issued and outstanding Additional paid in capital capital stock Total paid in capital Retained earnings Total stocks outy The transactions relating to stockholders' equity during the year are as follows Jan. Declared a dividend of $1 per share to stockholders of record on January 31, payable on February 15 Feb. 15 Paid the cash dividend declared on January 3. Apr. 12 The corporation purchased 6,000 shares of its own capital stock at a price of $40 per share Mary 9 Reissued 4,000 shares of the treasury stock at a price of $64 per share June 1 Declared 5 percent stock dividend to stockholders of record at June 15, to be distributed on June 30. The market price of the stock at June 1 w 42 per share. (The 2.000 shares reaning in the treasury do not participate in the stock sivid ) June 3e Distributed the stock dividend declared on June 1 Reg- 4 Reissue of the 2.000 reaining shares of treasury Stock at price of 537 per share Dec. 31 The Income Sumary account, showing income for the year of $1,223,00, cesed into the Retained Earnings account Dec. 31 The 582,000 balance in the Dividends account was closed into the Retained tarnir account Required: a. Prepare in general journal form the entries to record the above transactions b. Prepare the stockholders' equity section of the balance sheet of December 31, 2018 include a supporting schedule showing your computation of retained earnings at that date. c. Compute the maximum cash dividend per share that legally could be declared at December 31, 2018 without impairing the paid in capital of Thompson Service (Hint: The availability of retained earnings for dividends is restricted by the cost of treasury stock owned)