c. Purchase of 7 million shares of treasury stock for $91 million. e 2. Declaration and payment of cash dividends of $34 million. Now journalize the payment of the cash dividends. e 1. Declaration and payment of cash dividends of $34 million. Journalize the declaration of the dividend only. You will prepare the journal entry for the payment of the dividend next. More info a. Net income, $441 million b. Issuance of 10 million shares of common stock for $14.50 per share c. Purchase of 7 million shares of treasury stock for $91 million d. Sold 3 million of the treasury shares purchased in part c for $45 million e. Declaration and payment of cash dividends of $34 million At December 31, 2021, Sullivan Corporation reported the stockholders' equity accounts shown here (with dollar amounts in millions, except per-share amounts). (Click the icon to view the data.) Sullivan's 2022 transactions included (Click the icon to view the transactions.) Requirements 1. Journalize Sullivantsansactions in parts b,c,d, and e. Explanations are not required. 2. What was the overall effect of these transactions (parts a-e) on Sullivan's stockholders' equity? Requirement 1. Journalize Sullivan's transactions in b, c, d, and e. Explanations are not required. (Enter amounts in millions as provided to you in the problem statement. Record debits first, then credits. Exclude explanations from any journal entries.) b. Issuance of 10 million shares of common stock for $14.50 per share. d. Sold 3 million of the treasury shares purchased in part c for $45 million Requirement 2. What was the overall effect of these transactions (parts a through e) on Sullivan's stockholders' equity? (Enter a net decrease with a minus sign or parentheses.) The overall net increase (decrease) on stockholders' equity, in millions, is Data table