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. 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 $444,000 credit balance (from net income) in the Income Summary account to Retained Earnings. es General Requirement Journal General Ledger Trial Balance Statement of Stockholders RE Equity Impact on Equity For each transaction, indicate the impact on total stockholders' equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31, as calculated, agrees with the amount reported on the balance sheet. Impact on equity Dates: January 01 $ to: January 01 Total Stockholders' Equity - January 1 January 2) Purchased 4,000 shares of its own stock at $23 cash per share. January 5) Directors declared a $2 per share cash Stockholders' equity decreased dividend payable on February 28 to the February 5 Stockholders' equity decreased 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. 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 $444,000 credit balance No change in total equity Stockholders' equity increased Stockholders' equity increased Stockholders' equity decreased No change in total equity (from net income) in the Income Summary account Stockholders' equity increased to Retained Earnings. 1