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Share Holder equity I Itah Cornoration rennrts the following components of stockholders' equity on December 31 Common stock-$20 par value. 100.000 shares authorized. 40,000 shares issued and outstanding 800,000 Paid-in capital in excess of par value, common stock 60.000 Retained earnings Total stockholders' outtity During thea vear. the following transactions affected its stockholders' equity accounts. Jan. Jan. on N Purchased 4.500 shares of its own stock at $15 cash per share. 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 1.688 of its treasury shares at $19 cash per share. Aua. 22 Sold 2.812 of its treasury shares at $12 cash per share. Sept. 5 Directors declared a $2 per share cash dividend pavable on Oct. 28 Paid the dividend declared on September 5. Dec. 31 Closed the $408,000 credit balance (from net income) in the Income Summary account to Retained Earnings Required : 1. Prepare iournal entries to record each of these transactions. OO 2. Prepare a statement of retained earnings for the vear ended December 31. 2019 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31. 2019 Date General Journal nohit readit 20 Cab 20 Au 21 Do Statement of Retained Earnings 31-Dec Beginning retained earnings Ending retained earnings Stockholders' Equity Section of the Balance Sheet 31- Doc Total contributed canital Total stockholders equity