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Required information [The following information applies to the questions displayed below.] The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $350,300 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,150. c. Paid the dividends in (b). d. Issued 103,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. 2. Prepare journal entries to record eac Required" in the first account field.) Journal entry worksheet Record the purchase of $350,300 common stock now held in treasury. Note: Enter debits before credits. Journal entry worksheet 5 Record the cash dividends declared in the amount of $260,150. Note: Enter debits bofore credits. Journal entry worksheet Record the payment of the dividend. Note: Enter debits before credits. Journal entry worksheet 2 Record the issue of 103,000 new shares of $0.10 par value, for $2 per share. Hoten Enter debits before credits. Journal entry worksheet (1) 2 Record the entry to close Dividends account. Note: Lnter debits before credits