Dade Corporation reports the following components of stockholders equity on January 1. Common stock$10 par value, 150,000 shares authorized, 60,000 shares issued and outstanding $ 600,000 Paid-in capital in excess of par value, common stock 90,000 Retained earnings 500,000 Total stockholders' equity $ 1,190,000 During the year, the following transactions affected its stockholders equity accounts. January 2 Purchased 6,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 3,000 of its treasury shares at $27 cash per share. August 22 Sold 3,000 of its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the $233,500 credit balance (from net income) in the Income Summary account to Retained Earnings.

Closed the $233,500 credit balance (from net income) in the Income Summary account to Retained Earnings. Note: Enter debits before credits