Dunst Company had the following shareholders' equity account balances on December 31, 2017 80,000 Common stock, 150,000 authorized, 40,000 issued Contributed surplus on repurchases and Treasury shares, 20,000 shares Retained earnings Total shareholder's equity 45,000 (800,000) 500,000 $625,000 resales During 2018, the following tr i May1 Dunst resold 1,600 of the treasury shares at $52 per share. i. Dec. 30: The board of directors declared cash dividends of $2 per share. i. Dec. 31 Net income for the year ended December 31, 2018 was $150,000. Dunst uses the single transaction method for treasury shares. Required: Record the journal entries for the transactions in 2018 and make all the necessary year-end entries relating to shareholders equity accounts. Accounts titles might be used:Cash,Dividends payable,Contributed surplus,Retained earnings,Treasury shares,Income summary) ?/? 1Mar. 15 |? |???? ???? ??(Alt + A) ??:? 2 Dec. 30