Mulberry Street Inc. began business on January 1, 2011 by issuing all of its 3,000 authorized shares of its $2 par value common stock for $9 per share. On June 30, they declared a cash dividend of $1.90 per share to stockholders of record on July 31. They paid the cash dividend on August 30. On November 1, Mulberry Street reacquired 300 of its own shares of stock for $11 per share.

a.	Prepare all of the necessary journal entries to record the events described above. (Omit the "$" sign in your response.)

General Journal	Debit	Credit
(Click to select) Bills payable Additional paid-in capital Cash Common stock Retained earnings Treasury stock Dividends payable Dividends declared
(Click to select) Treasury stock Common stock Dividends declared Additional paid-in capital Retained earnings Dividends payable Bills payable Cash
(Click to select) Treasury stock Retained earnings Dividends payable Common stock Dividends declared Cash Bills payable Additional paid-in capital
(Click to select) Dividends declared Retained earnings Common stock Bills payable Dividends payable Cash Treasury stock Additional paid-in capital
(Click to select) Cash Bills payable Retained earnings Treasury stock Common stock Dividends payable Additional paid-in capital Dividends declared
(Click to select) Dividends declared Bills payable Treasury stock Common stock Retained earnings Additional paid-in capital Cash Dividends payable
(Click to select) Dividends payable Treasury stock Bills payable Dividends declared Cash Retained earnings Common stock Additional paid-in capital
(Click to select) Retained earnings Bills payable Cash Common stock Additional paid-in capital Dividends payable Treasury stock Dividends declared
(Click to select) Treasury stock Dividends payable Common stock Additional paid-in capital Cash Retained earnings Bills payable Dividends declared

b.	Prepare the Stockholders' Equity section of the Balance sheet as of 12/31/2011 assuming that the Net Income for the year was $49,000. (Negative amounts should be indicated by a minus sign.Omit the "$" sign in your response.)

Stockholders' equity:
(Click to select) Common stock Less: Treasury stock Dividends payable Retained earnings Add: Treasury stock	$
(Click to select) Add: Treasury stock Additional paid-in capital Retained earnings Dividends payable Less: Treasury stock
(Click to select) Dividends payable Add: Treasury stock Common stock Less: Treasury stock Retained earnings
(Click to select) Add: Treasury stock Retained earnings Less: Treasury stock Common stock Dividends payable
Total stockholders' equity	$