Austin Company reports the following components of stockholders' equity on January 1. During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,600 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the february 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 2,000 of its treasury shares at $27 cash per share. August 22 Sold 2,000 of its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on october 28 to the Septeaber 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the $497,000 credit balance (from net incone) in the Income Sumeary account to Retained Earnings. Austin Company reports the following components of stockholders' equity on January 1. During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,600 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the february 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 2,000 of its treasury shares at $27 cash per share. August 22 Sold 2,000 of its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on october 28 to the Septeaber 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the $497,000 credit balance (from net incone) in the Income Sumeary account to Retained Earnings