\begin{tabular}{|l|l|} \hline Assessment Items & Requirements \\ \hline 1.Prepare in general journal form the entries to record the transactions show below. & UseExcelandproperGeneralJournalformatandrules.Showsupportingcomputations. \\ \hline 2.PreparethestockholdersequitysectionofthebalancesheetasofDecember31,2020Checkfigurefortotalstockholdersequityis$11,640,400 & Includeasupportingscheduleshowingyourcomputationofretainedearningsatthatdate.UseTaccountsifneededtocalculatetheupdatedaccountbalances \\ \hline 3.ComputethemaximumcashdividendpersharethatlegallycouldbedeclaredatDecember31,2020withoutimpairingthepaidincapitalofNigent.-Hint-TheavailabilityofretainedearningsfordividendsisrestrictedbythecostofTreasuryStockheld. & Showsupportingcomputations. \\ \hline & \\ \hline \end{tabular} Stockholders' Equity At the beginning of 2020, Nigent, Inc. showed the following amount in the stockholders" equity section of its balance sheet: Stockholders' equity: Capital stock, $1 par value, 1,000,000 Shares authorized, 420,000 issued and outstanding Additional paid-in capital: capital stock Total paid-in capital Retained earnings Total stockholders' equity \begin{tabular}{lr} $ & 420,000 \\ & 7,560,000 \\ \hline & 7,980,000 \\ & 2,000,000 \\ \hline$ & 9,980,000 \\ \hline \hline \end{tabular}