During the year, the following transactions affected its stockholders' equity accounts. January 2 purchased 4,000 shares of its own stock at \\( \\$ 23 \\) canh per share. record. rebruary 20 pafd the dividend declared on Jahuary 5. July 6 sold 2,000 of itll treasury sharea at \\( \\$ 27 \\) cash pet share. Augget 22 sold 2,000 of itl treasury whares at \\( \\$ 19 \\) cash pet sharo. septebser 5 Dfreotors boelared a \\( \\$ 2 \\) per whare cash dividend paybble on october 21 to the september 25 stoekholdera of recurd. Detober 20 paid the dividend deelared on Septenber 5 . December 31 Closed tbe \\( \\$ 497,000 \\) eredit balance ( \\( f \\) can eet incame) in the Incone sumarr account to Retained Earnings. Prepare the Statement of Retained Earnings for Austin Corporation for the year ended Decernber 31 Durng the year, the following transactions affected its stockholders' equity acceunts record. Tebrusy 20 Tids the dividend deelated on January 3 . resord. Oetebte 20 pald ba dividend declared ah Eeptenber 3. For each transaction, indicate the impact on fotal stochbolders' equify. Inter decreases to equity as negative values. Verify that fotal Stockholders' equaty as of December 31 , as calculated, agrees wah the amount reported on the balonce sheet. Total stocktholdera equity During the year, the following transactions affected its stockhclders' equity accounts Jancary 2 Purchased 4,000 sharea of 1 ta own stock at \\( \\$ 23 \\) cash per share. Japuary 5 pirectory declared a \\( \\$ 2 \\) pek abare cash dividend payable on February 28 to the rebruary 5 stockholders of record. Pebruary 21 paid the dividend declared os January 5. July 4 sold 2,000 of its treasury ahares at \\( \\$ 27 \\) cash per ahare. Nugust 22 Sold 2,000 of its treasury whares at \\( \\$ 19 \\) cash per ahare. September 5. Directors declared a \\( \\$ 2 \\) per share canh dividend payable on October 28 to the Septeaber 25 stockholdor of record. October 28 Paid the dividend declared on septenber 5. During the year, the following transactions affected its stockholders\" equity accounts. Prepare the necessary journal entries. If no joumal entry is required, select \"No foumal entry required\" in the first input box. Journal entrv worksheet Austin Corporation reports the following components of stockholders' equity on January 1. Cornon stock-\\$10 par vaiue, 110,000 shares authorized, 40,000 shares issued and outstanding paid-in capital in excess of par value, comen stock Retained earnings Total stockholders' equity \\( \\begin{array}{r}\\$ 400,000 \\\\ 60,000 \\\\ 330,000 \\\\ \\hline \\$ 790,000 \\\\ \\hline\\end{array} \\) During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,000 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 2,000 of its treasury shares at \\( \\$ 27 \\) cash per share. August 22 Sold 2,000 of its treasury shares at \\( \\$ 19 \\) cash per share. septeeber 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 deelared on september 5. Decenber 31 Closed the \\( \\$ 497,000 \\) credit balance (from net income) in the fncome surmary account to Rotained Earnings. Prepare the stockholders' equity section of Austin Corporation's balance sheet as of December 31 . During the yeat, the following transactions affected its stockholders' equity accounts. recore. tebruary 28 peld the diridet deelared on Jahiary 5. Jaly 6 told 2,109 of 1 ta treasury shares at 127 eash pet whare. sepuenber 5 birectorn deelased a \\( \\$ 2 \\) pef-ahare oas dividend payable on octaber 21 to the septenber as ntockhotders of recers. cotober al pail the dividecd decilared on septenber 3. During the year, the folowing transactions affected its stockholders' equity sccounts. Propare the necessary joumal entries. If no fournal entry is recuired, seect \"Wo joumal e-try required\" in the fint input bok. Journal entry worksheet Petasined earningl Total neckbolderat egeity \\( \\$ 730,000 \\) During the yest, the following transaktions afected its stockholders' equity accounts. Jatrasy, 2 rurchased 4,090 shares of zta ovb atock at 123 cash per share. record. rebruary as fald the dividend deolared on jansary 3 , Jaly 6 fold 2,000 of ita ereasory whares at \\( \\$ 27 \\). eash per ahafe. record. Deteber 23 Feld the dividend dectared an September 3. Ouring the yeac, the following transactions affected its stockholders' equity accounts. Prepare the necessary Journal entries. If no jourral entry is required, select \"Wo joumal entry required\" in the first input box
