Chapter 11 Homework Saved 13 Context Corporation reports the following components of stockholders' equity on December 31, 2011 Part 2 of 3 Common stock-$15 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 600,000 80,000 400,000 5 points $1,080,000 ebook Print References In year 2012. the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,000 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Feb 28 Paid the dividend declared on January 5 July 6 Sold 1,875 of its treasury shares at $29 cash per share. Aug 22 Sold 3,125 of its treasury shares at $22 cash per share. Sept. 5 Directors declared a $4 per share cash dividend payable on October 28 to the September 25 stockholders of record, Oct 28 Paid the dividend declared on September 5 Dec 31 Closed the $388,000 credit balance (from net income) in the income Summary account to Retained Earnings. Mc Graw Prey 13 14 of 14 Next > Type here to search o 199 Blackboard Question 3 Crossing the Required information Summary account to Retained Earnings. art 2 of 3 Ints 2. Prepare a statement of retained earnings for the year ended December 31, 2012 (Amounts to be deducted should be indicated by a minus sign. Omit the "S" sign in your response.) CONTEXT CORPORATION Statement of Retained Earnings For Year Ended December 31, 2012 Retained earnings, Dec. 31, 2011 $ (Click to select) eBook Point Rentences Click to select) (Click to select) Retained earnings, Dec. 31. 2012 $ Mc Graw be here to search O 1996 Blackboard ... Question 13