nabled: ACC302 HAM Shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2021 At January 1, 2021, the corporation had outstanding 110 million common shares $1 per per share. Retained Earnings (5 in millions) Retirement of 20 million common shares for: $34 million Declaration and payment of a $0.37 per share cash dividend Declaration and distribution of a 5% stock dividend 105 29: 37 37 117 Beginning balance Net income for the year Ending balance Required: 1. From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner-Jude's retained earnings during 2021. Prepare the journal entries that Brenner-Jude must have recorded during the year for these transactions. (Hint In lieu of revenues and expenses, use an account titled "Income summary to close net income or net loss) 2. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2021 Complete this question by entering your answers in the tabs below. Required 1 Required 2 From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner Jude's retained earnings during 2021. Prepare the journal entries that Brenner-Jude must have recorded during the year for these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) View transaction list Journal entry worksheet < 1 2 34 Record the retirement of common shares. Note: Enter debits before credits Event 1 General Journal Debit Credit Record entry Clear entry View general journal Show less A