Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 $ 985,000 In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 5,000 shares of its own stock at $23 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,900 of its treasury shares at $27 cash per share. Aug. 22 Sold 3,100 of its treasury shares at $20 cash per share. Sept. 5 Directors declared a $2 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 $291,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Requirement General Journal General Ledger Trial Balance Statement of Stockholders Equity Impact on Equity RE Prepare the Statement of Retained Earnings for Vancouver Corporation for the year ended December 31, 2017. VANCOUVER CORPORATION Statement of Retained Earnings Prepare the Statement of Retained Earnings for Vancouver Corporation for the year ended December 31, 2017. VANCOUVER CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 Requirement General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity Prepare the stockholders' equity section of Vancouver Corporation's balance sheet as of December 31, 2017. Dates: Jan 01 to: Dec 31 VANCOUVER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total contributed capital 0 Total stockholders' equity $ 0 For each transaction, indicate the impact on total stockholders' equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31, 2017, as calculated, agrees with the amount reported on the balance sheet. to: Dec 31 Dates: Jan 01 $ Impact on equity Total Stockholders' Equity - December 31, 2016 Jan. 1) Purchased 5,000 shares of its own stock at $23 cash per share. Jan. 5) Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Feb. 28) Paid the dividend declared on January 5. Jul. 6) Sold 1,900 of its treasury shares at $27 cash per share. Aug. 22) Sold 3,100 of its treasury shares at $20 cash per share. Sep. 5) Directors declared a $2 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 $291,000 credit balance (from net income) in the Income Summary account to Retained Earnings Impact on equity Total Stockholders' Equity - December 31, 2016 Jan. 1) Purchased 5,000 shares of its own stock at $23 cash per share. Jan. 5) Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Feb. 28) Paid the dividend declared on January 5. Jul. 6) Sold 1,900 of its treasury shares at $27 cash per share. Aug. 22) Sold 3,100 of its treasury shares at $20 cash per share. Sep. 5) Directors declared a $2 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 $291,000 credit balance (from net income) in the Income Summary account to Retained Earnings