GL1301- Based on Problem 13-2A LO C3, P2, P3 OnPoint Company reports the following components of stockholders' equity on December 31, 2016: Common stock-$10 par value, 120, 009 shares authorized, 50, ee0 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings s 580, 980 75, 000 410, 000 85,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. Jan. Jan. 1 Purchased 5, e00 shares of its own stock at s23 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record Feb. 28 Paid the dividend declared on January 5 July 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. Sept. 5 Directors declared a s2 per share cash dividend payable on october 28 to the September 25 stockholders of record Oct. 28 Paid the dividend declared on September 5 Dec. 31 closed the $154,000 credit balance (from net income) in the Income Sumnary account to Retained Earnings. General Stockholders Impact on Requirement ournal edg Trial Balance Statement of Stockholders Impact RE 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, 2017, as calculated, agrees with the amount reported on the balance sheet. Requirement Journal General LedgerTrial Balance Statement of Stockholders Impact on RE Equity Equity holders' equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31, 2017, as calculated, agrees with the amount 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. 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 dividend payable on October 28 to the September 25 stockholders of record Oct. 28) Paid the dividend declared on September 5. Dec. 31) Closed the $154,000 credit balance (from net income) in the Income Summary account to Retained Earnings