During the year, the following transactlons affected its stockholders' equity accounts Jasuary 5 pirectors declared a 52 per there cash dividend payable on Februacy 28 to the rebruary 5 atockholders of record: January 2 Purehased 5,000 shares of its onn stock at $23 cash per shore. february 2 is pald the dividend declared on Janwary 5 . July 6 sold 2,500 of Its treasury shares at 527 cash per share. septenber 5 Diractors declared a 52 per share cash dividend puyable on october 28 to the Septerber 25 stockholders of record. August 22 sold 2,350 of its treasory thares at 510 cash per whare. october 28 . Paid the dividend declared on septenber 5 . During the yeac, the following transactions affected its stockholders'D equity accounts. Prepare the necessary foumal entries, If no journal entry is required, select "No journal entry required" in the first input box Tanuary - Purchased 5,000 shares of its own stock at $23 cash per share. Januory 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of rec February 28 Paid the dividend declared on January 5. July 6 Sold 2,500 of its treasury shares at $27 cash per share. August 22 sold 2,500 of its treasury shares ot $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on october 28 to the September 25 stockholders of re october 28 Paid the dividend declared on Septenber 5 . Decenber 31 Closed the $312,590 credit balance (from net income) in the Incone Summary account to Retained Earnings. Prepare the Statement of Retained Eamings for Sanchez Corporation for the year ended December 31. January 2 Purchased 5,600 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payoble on february 28 to the february 5 stoch February 28 Paid the dividend declared on January 5. July 6 sold 2,50e of its treasury shares at $27 cash per share. August 22 sold 2,560 of its treasury shares at $19 cash per share. Septenber 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stoc october 28 Poid the dividend declared on September 5. December 31 Closed the $312,500 credit balance (fron net income) in the Incone Summary account to Retained Prepare the stockholders' equity section of Sanchez Corporation's balance sheet as of December 31. December 31 Closed the $322,500 credit balance (from net incose) in the Incone Sumnary account to Retained Earnings. 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. During the year, the following transactlons affected its stockholders' equity accounts Jasuary 5 pirectors declared a 52 per there cash dividend payable on Februacy 28 to the rebruary 5 atockholders of record: January 2 Purehased 5,000 shares of its onn stock at $23 cash per shore. february 2 is pald the dividend declared on Janwary 5 . July 6 sold 2,500 of Its treasury shares at 527 cash per share. septenber 5 Diractors declared a 52 per share cash dividend puyable on october 28 to the Septerber 25 stockholders of record. August 22 sold 2,350 of its treasory thares at 510 cash per whare. october 28 . Paid the dividend declared on septenber 5 . During the yeac, the following transactions affected its stockholders'D equity accounts. Prepare the necessary foumal entries, If no journal entry is required, select "No journal entry required" in the first input box Tanuary - Purchased 5,000 shares of its own stock at $23 cash per share. Januory 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of rec February 28 Paid the dividend declared on January 5. July 6 Sold 2,500 of its treasury shares at $27 cash per share. August 22 sold 2,500 of its treasury shares ot $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on october 28 to the September 25 stockholders of re october 28 Paid the dividend declared on Septenber 5 . Decenber 31 Closed the $312,590 credit balance (from net income) in the Incone Summary account to Retained Earnings. Prepare the Statement of Retained Eamings for Sanchez Corporation for the year ended December 31. January 2 Purchased 5,600 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payoble on february 28 to the february 5 stoch February 28 Paid the dividend declared on January 5. July 6 sold 2,50e of its treasury shares at $27 cash per share. August 22 sold 2,560 of its treasury shares at $19 cash per share. Septenber 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stoc october 28 Poid the dividend declared on September 5. December 31 Closed the $312,500 credit balance (fron net income) in the Incone Summary account to Retained Prepare the stockholders' equity section of Sanchez Corporation's balance sheet as of December 31. December 31 Closed the $322,500 credit balance (from net incose) in the Incone Sumnary account to Retained Earnings. 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