Mortow Enterprises Inc. tranufactured bathroom fixtures. The stockholders' equity accounts of Monrow Enterprises Inc., with balances on January 1, 2045, are as follows: Common stock, $20 stated value (500,000 shares authorized, 399,000 shares issued) 57,980,000 Paid In Capital in Exces of Stated Value-Common Stock 877,800 Retained Femings 34,554,000 Treasury Stock (22,900 shares, at a cost of $17 per share) 382,500 The following selected transactions ocurred during the year: Ian Apr 6 Jul 22 Paid cash dividends of $0.07 per share on the common stock. The dividend had been properly recorded when declared on December of the preceding fiscal year for $26,355, 10 Issued 73,000 shares of common stock for $23 per shure. Sold all of the treasury stock for $26 per share 5 Declared a 2% stock dividend on common stock, to be capitalized at the market price of the stock, which ix 524 per share 15 Issued the certificates for the dividend declared on July 5. Purchased 30,000 shares of treasury stock for $20 per share 28 Declared a 30.09.per-share dividend on common stock Closed the two dividends accounts to Retained Earnings Aug Nov. Dec 31 Tal. s Aug 15 Declared a 2% stock dividend on common stock, to be capitalized at the market price of the stock, which is $24 per share Issued the certificates for the dividend declared on July 5. Purchased 30,000 shares of treasury stock for $20 per share, Declared a $0.09per-share dividend on common stock. Closed the two dividends accounts to Retained Eumings, , 23 Dec 28 31 Required: 1. Enter the January 1 balances in Taccounts for the stockholders equity accounts listed, Abe prepare T accounts for the following: Parid.In Capital from Sale of Treasury Stock Stock Dividends Distributable: Stock Dividende: Cash Dividende b. Journaline the entries to record the transactions and post to the right selected accounts. No poutref is required in the journal Refer to the chart of accounts for the exact wording of the account nisles. CNOW journals do not we lines for journal explanations. Every line on a journal paper is wed for debitor credit entries CNOW journals will automatically indent a credit entry when a credit amount is entered. Round your final er to the nearest dollar c. Prepare a retained.cornettement for the year ended December 31, 2045. Assume that Murrow Enterprises had net income for the year ended December 31, 2045,081,162,500. Be ware to complete the statement heading Refer to the chart of accounts and the list of Label and Amount Docriptions for the exact wonding of text entriesA decrease to retained earning should be entered as a negative amount d. Prepare the Stockholders'Equity section of the December 31, 2045, balance sheet Refer to the Bhart of accounts and the late of Labely and Amount Descriptions for the exact woning of text entrie For those boxes in which you must enter tractor negative, we amur sign Entries for selected corporate transactions T Accounts Instructions Journal Labels and Amount Descriptions Chart of Accounts TAccounts Retained Earnings Treasury Stock Pald-In Capital from Sale of Treasury Stock Stock Dividends Distributable Stock Dividends T Accounts Treasury Stock Paldin Capital from Sale of Treasury Stock Stock Dividende Distributable Stock Dividende Cash Dividends Journal 8. Journalise the entries to record the transaction. No post ref is required in the journal. Refer to the chart of accounts for the exact wording of the account titler. CNOW journals do not we lines for journal explanations. Every line on a journal page is used for debitor credit entries. CNOW Journals will automatically indent a credit entry when a credit amount is entered. Round your final answer to the nearest dollar, PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 . 2 8 1 9 10 Retained Earnings Statement c. Prepare a retained asrning statement for the year ended December 31, 2073. Arrume that Morrow Enterprises had net income for the year ended December 31, 20Ys, of $1,162,500. Be sure to complete the statement heading Refer to the chart of accounts and the lots of labels and Amount Descriptions for the exact wording of text entrier. A decrease to retained earnings should be entered as a negative amount Morrow Enterprises Retained Earnings Statement (Label) 1 2 3 Dividends: 4 5 6 7 Stockholders' Equity d. Prepare the Stockholders' Equity section of the December 31, 208s, balance sheet. Refer to the chart of accounts and the list of Labels and Amount Descriptions for the exact warding of text entries. For those boxes in which you must enter subtractive or negative numbers, we a mimer sign, Stockholders' Equity 1 Paid-in capital: 2 3 4 5 7 . 9