Corporation reports the following components stockholders December 31 of the prior year Connon stock valve, 50,000 authorized, shares and outstanding $ in in excess of par stock 50,000 Ratained earnings 340,000 Totat stockholders equity During the current year, the following affected its stockholders accounts 2 Purchased shares of its own stock cash per share. January Directors declared $share cash dividend payable on to the February stockholders February 28 the dividend declared on January July Sold of its treasury shares cash per share August 27 1.500 of its treasury shares at 21 cash per share. declared2 share cash dividend payable on October 22 to the 23 of record October 22 the dividend declared on September December 31 Closed the income) the Income account to Earnings. Required: 1. entries to record each of these transactions 2. Prepare statement of retained earnings for the current ended December 31 Prepare the stockholders' equity section of the balance sheet os of December 31 of the current year