Austin Company reports the following components of stockholders' equity at December 31, 2019. Hel Common stock-$10 par value, 110,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 5400,000 60.000 230,000 5790,000 During 2020, the following transactions affected its stockholders' equity accounts. Jan. Jan. 2 Purchased 4,000 shares of its own stock at $23 cash per share 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,500 of its treasury shares at $27 cash per share. Aug. 22 Sold 2,500 of Its treasury shares at $20 cash per share. Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25. stockholders of record Oct. 28 Paia the dividend declared on September 5. Dec 31 Closed the 3497,000 credit balance (from net income) in the Income Summary account to Retained Earnings. General General Requirement General Journal General Ledger Trial Balance Statement of RE Stockholders Equity Impact on Equity Dates: Jan 01 to: Dec 31 AUSTIN CORPORATION Trial Balance December 31, 2020 Account Title Debit Credit $ 430,000 184,000 740,000 Cash Accounts receivable Equipment Accumulated depreciation - Equipment Common stock Paid-in capital, Common Retained earnings Income summary Total DDDDD 67,000 400,000 60,000 330,000 497,000 1,354,000 s 1,354,000 s 2:29:00 Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Prepare the Statement of Retained Earnings for Austin Corporation for the year ended December 31, 2020. Impact on Equity AUSTIN CORPORATION Statement of Retained Earnings For Year Ended December 31, 2020 0 $ 0 bulary account to Retained Earnings. General Requirement General Trial Balance Statement of Journal Stockholders Impact on Ledger RE Equity Equity Prepare the stockholders' equity section of Austin Corporation's balance sheet as of December 31, 2020. Dates: Jan 01 to: Dec 31 AUSTIN CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2020 Total contributed capital Total stockholders' equity $ Statement of RE Impact on Equity >