During the current year, the following transactions affected its stockholders' equity accounts.January $5$ Directors declared a $$6$ per share cash dividend payable on February $28$ to the February $5$ stockholders of record. Prepare journal entries to record each of these transactions.

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

$7$

$8$

Record the purchase of $4,000$ shares of its own common stock for $$25$ cash

per share.

Note: Enter debits before credits. Prepare a statement of retained earnings for the current year ended December $31.$

Note: Amounts to be deducted should be indicated by a minus sign. Prepare the stockholders' equity section of the balance sheet as of Dect

February $28$ Paid the dividend declared on January $5.$August $22$ Sold $2,000$ of its treasury shares at $$21$ cash per share.

September $5$ Directors declared a $$6$ per share cash dividend payable on October $28$ to the September $25$ stockholders of record.December $31$ Closed the $$408,000$ credit balance $($from net income$)$ in the Income Summary account to Retained Earnings.Required:

Prepare journal entries to record each of these transactions.

Prepare a statement of retained earnings for the current year ended December $31.$

Prepare the stockholders' equity section of the balance sheet as of December $31$ of the current year.