Exercise 18-17 (Algo) Transactions affecting retained earnings [LO18-6, 18-7] Shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 108 million common shares, $1 par per share. Required: 1. From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner-Jude's retained earnings during 2021. Prepare the journal entries that Brenner-Jude must have recorded during the year for these transactions. (Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.) 2. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2021. Journal entry worksheet 4 Record the retirement of common shares. Note: Enter debits before credits. Journal entry worksheet Record the closing entry for net income. Note: Enter debits before credits. Journal entry worksheet Record the declaration and payment of a cash dividend. Note: Enter debits before credits. Journal entry worksheet 1 Record the declaration and distribution of a stock dividend. Note: Enter debits before credits. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2021. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)