GL1101 - Based on Problem 11-2A LO C3, P2, P3 Sacramento Company reports the following components of stockholders' equity on December 31, 2016: Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings 500,000 75,000 410,000 985,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. 1 Purchased 5,000 shares of its own stock at $23 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of Jan. Jan 28 Paid the dividend declared on January 5. 6 Sold 1,900 of its treasu: 22 Sold 3,100 of its treasury shares at $20 cash per share. 5 Directors declared record. 28 Paid the dividend declared on September 5. 31 Closed the $280,500 credit balance (from net income) Feb. shares at $27 cash per share. July Aug $2 per share cash dividend payable on October 28 to the September 25 stockholders of Sept Oct. in the Income Summary account to Retained Earnings. Dec. General Journal Stockholders General Statement of Impact on Equity Requirement Trial Balance Ledger RE Equity General Journal tab - Prepare the necessary journal entries. Statement of Retained Earnings tab - Prepare the Statement of Retained Earnings for the Sacramento Corporation for the year ended December 31, 2017. Stockholders' Equity tab - Prepare the Stockholders' equity section of Sacramento Corporation's December 31, 2017 balance sheet Impact on Equity tab For each transaction, indicate the total change in Stockholders' Equity, if any. Verify that total equity, as calculated, agrees with the amount reported on the Stockholders' Equity tab. Prey 1 of 1 Next Statement of RE Stockholders Equity General General Impact on Equity Trial Balance Requirement Journal Ledger 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, 2017, as calculated, agrees with the amount reported on the balance sheet. Dates: Jan 01 to: Dec 31 Impact on equity Total Stockholders' Equity December 31, 2016 Jan. 1) Purchased 5,000 shares of its own stock at $23 cash per share. Jan. 5) Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record. Feb. 28) Paid the dividend declared on January 5 Jul. 6) Sold 1,900 of its treasury shares at $27 cash per share. Aug. 22) Sold 3,100 of its treasury shares at $20 cash per share. Sep. 5) Directors declared a $2 per share cash er 28 to the September 25 stockbolders of record Oct. 28) Paid the dividend declared on September holders of rec0rd. 5 Dec. 31) Closed the $280,500 credit balance (from net income) in the Income Summary account to Retained Earnings. Stockholders Equity Impact on Equity 1 of 1 Prev Next In year 2017, the following transactions affected its stockholders' equity accounts. 1 Purchased 5,000 shares of its own stock at $23 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 s tockholders of Jan Jan. record. dividend declared on Janua$27 cash per share. Feb. July Aug Sept. 28 6 Sold 1,900 of its treasury 22 Sold 3,100 of its treasury shares at $20 cash per share 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of shares record. 28 Paid the dividend declared on September 5. 31 Closed the $280,500 credit balance (from net income) in the Income Summary account to Retained Earnings. Oct. Dec. Statement of Stockholders RE General General Impact on Equity Requirement Trial Balance Journal Ledger Equity Prepare the stockholders' equity section of Sacramento Corporation's balance sheet as of December 31, 2017. Dates: Jan 01 to: Dec 31 SACRAMENTO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Total contributed capital Total stockholders' equity Impact on Equity Statement of RE 1 of 1 Prev Next In year 2017, the following transactions affected its stockholders' equity accounts. 1 Purchased 5,000 shares of its own stock at $23 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 s tockholders of Jan Jan. record. dividend declared on Janua$27 cash per share. Feb. July Aug Sept. 28 6 Sold 1,900 of its treasury 22 Sold 3,100 of its treasury shares at $20 cash per share 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of shares record. 28 Paid the dividend declared on September 5. 31 closed the $280,500 credit balance (from net income) Oct. in the Income Summary account to Retained Earnings. Dec. Statement ofStockholders Equity Impact on Equity General General Requirement Trial Balance Journal Ledger RE Prepare the Statement of Retained Earnings for Sacramento Corporation for the year ended December 31, 2017. SACRAMENTO CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017