b. Post all necessary items to a Retained Earnings T-account to update the account. Hint: Do not forget the effect of net income. c. PrepareCampsDecember31stockholdersequity section. d. Using end-of-year outstanding shares, calculate earnings per share for the year.

This problem is in textbook solutions but the numbers on the journal entries are marked incorrect on my homework. After the first entry, I do not understand where the numbers come from.

Recording and Reporting Equity Camp Corporation had the following balances in its stockholders' equity at January 1: Common stock, $2 par value, 450,000 shares issued $ 900,000 Additional paid-in capital 1,200,000 Retained earnings 2,225,000 Treasury stock, at cost, 8,000 shares (48,000) During the year, Camp Corporation had the following transactions related to stockholders' equ Mar. 1 Issued 200,000 shares of common stock for cash at $8 per share. July 1 Declared a 10% stock dividend, payable August 1. The stock was trading at $7 per share on July 1. Aug. 15 Declared a $0.50 per share cash dividend to stockholders of record on September 1, payable September 15. Oct. 1 Bought back 6,000 shares of common stock for $45,000. In addition to the above transactions, assume that during the year Camp generated net incom of $520,000 Required a. Prepare the journal entries to record the four transactions