Naomi Limited reports the following components of stockholders' equity on December 31,2011. Share capital ordinary, $10 par value 50,000 shares authorized, 20,000 3200,000 shares issued and outstanding Share premium, ordinary $30,000 I Retained earnings I 3135,0110 Total shareholders' equity $365,000 In year 2012, the following transactions affected its stockholders' equity accounts. January 1: Purchased 2,000 of its own shares at $20 cash per share. January 5: Directors declared a 32 per share cash dividend payable on Febmary 23 to the February 5 shareholders of record. Febmary 23: Paid the dividend declared on January 5. July 5: Sold 750 of its treasury shares at $24 cash per share. August 22: Sold 1,250 of its treasury shares at $12 cash per share. September 25: Directors declared a S2 per share cash dividend payable on October 23 to the September 25 shareholders of record. October 23: Paid the dividend declared on September 5. December 31: Closed the $243,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions for 2012. 2. Prepare a statement of changes in equity for the year ended December 31, 2012