Prepare the equity section of Peari Company's statement of financial position after giving effect to these transactions, assuming that the net income for 2023 was $101,500. Country law requires restriction of retained earnings for the amount of treasury shares. (Enter account name only and do not provide descriptive information.) Pearl Company has the following equity acrounts at December 31, 2022. Share Capital-Ordinary ( $100 par value, authorized 8,400 shares) $500,000 Retained Eamings 281,200 (a) Your answer is correct. Prepare entries in journal form to record the following transactions, which took place during 2023. (Credit account titles are outomotically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount tides and enter O for the amounts.) (1) 270 ordinary shares were purchased at $97 per share. (These are to be accounted for using the cost method) (2) A $20 per share cash dividend was declared. (3) The dividend declared in No. 2 above was paid. (4) The treasury shares purchased in No. 1 above were resold at 5103 per share: (5) 480 shares were purchased at $106 per share. (6) 320 of the shares purchased in No. 5 above were resold at $96 per share. No. Account Titles and Explanation Debit Credit 1. Treacury Shares 26190 2. Retained Earnings 26190 Dividends Payable 3. Dividends Payable \begin{tabular}{|r|} \hline 94600 \\ \hline \end{tabular} 94600 4. Cash 27810 Treasury Shares Share Premium-Treasury 5. Treasury Shares 6. Cash 30720 Share Premium-Treasury \begin{tabular}{|r|} \hline 1620 \\ \hline 1580 \\ \hline \end{tabular} Treasury Shares