Part B only, thank you

LO7, 8 P11-6A. Retained Earnings: Transactions and Statement The stockholders' equity accounts of Raymund Corporation as of January 1 appear below: MBC Common stock, $1 par value, 400,000 shares authorized; 160,000 shares issued and outstanding Paid-in capital in excess of par value. Retained earnings $160,000 920,000 513,000 During the year, the following transactions occurred: June 7 Declared a 20 percent stock dividend; market value of the common stock was $15 per share. 15, 2017) - Part B. 320,000 28 Issued the stock dividend declared on June 7. 5 Declared a cash dividend of $2.00 per share. 26 Paid the cash dividend declared on December 5. Dec. 160,000= (4.000 Required Prepare journal entries to record the foregoing transactions. b. Prepare a statement of retained earnings. The net income for the year is $435,000. a ntian 17