Marcellus Company reports the following components of stockho equity on January 1. Coaman stock-s10 par value, 110,000 ohares authorined, 40,000 abaren inaved and ontstanding Paid-in eaplual in excess of par value, eancon. atoek. Retained earnings Total "tockholders' equity During the year, the following transactions affected its stockholders' equity accounts. January 2 Parehased 4,000 aharea of ita-own atoek at $23 esah per nbare. Sanuaty 5 pirectora deelared a 52 per share cash dividend payable on rebruary 28 to the rebruary 5 atoekholdera of record. rebruary 28 Faid the dividend deelared en Janiary 3 . July 6 sold 2,000 of its treasury nbaren at $27 eash pee nhare. Auguet 22 sold 2,000 of tes treabury sbares at 119 caah per share. septeniber 5 pirectori deelared a 52 per ahare cash dividend payable on oetober 218 to the feptenbee 25 atoekholdera of record. Oetober 20 Faid the dividesd deckared on Septenber 5. becenber 31 closed the $549,500 eredit balanee (fron net ineone) is the theane sumary aceount to letained farnings. * Answer is not complete. During the year, the following transactions affected its stockholders' equity accounts. Prepare the necessary joumal entries. If no joumal entry is required, select "No journal entry required" in the first input box. January: 2: Purchased 4,000 ahsres of it ous atock at 523 esah per share. January 2 Purchased 4,000 ohares of jea oun atock at 523 cosah per share. record February 28 Raid the dividend declared on January 5 . July 6 Sold 2,000 of its treasary shares at $27 cash per ahare. Aupust 22 Sold 2,000 of its treasury nharea at $19 can . ahare. reoord. Gotobex 28 Faid the dividend deelared a September 5 . Decenber 31 cioged the 5549,500 vredit balance (from net income) in the Income Sumary aceount to Rotainod Earninga. (x) Answer is not complete. Prepare the Statement of Retained Earnings for Marcellus Corporation for the year ended December 31 . Januaxy 2 Parchased 4,000 sharen of its own atock at $23 eash per share. January 5 Directors declared a $2 per share cash dividend payable on Fobruary 28 to the rabruary 5 stockholders of record. February 28 Paid the dividend declared on January 5 . July 6 sold 2,000 of it treasiary mhares at $27 cash per share. August 22 sold 2,000 of its treasury shares at $19 cash thare. septenber is pireetors declared a 52 por share cash divide able on oetober 28 to the september 25 atockholders of record. october 28 paid the dividend deelared on Septenber 5 . December 31 closed the 5549,500 eredit balance (from net incene) in the Income susmary account to Retained Earnings. Q Answer is not complete. Prepare the stockholders' equity section of Marcellus Corporation's balance sheet as of December 31. For each transaction, indicate the impact on total stockholders' equity. Enter decreases to equity as negative values. Verify that total 5 tockholders' equity as of December 31 , as calculated, agrees with the amount reported on the balance sheet