Problem 13-2B Cash dividends, treasury stock, and statement of retained earnings (C3@P2P3 Balthus Corp. reports the following components of stockholders' equity at December 31 of the prior year. It completed the following transactions related to stockholders' equity during the current year. Jan. 10 Purchased 40,000 shares of its own stock at $12 cash per share. Mar. 2 Directors declared a $1.50 per share cash dividend payable on March 31 to the Mareh 15 stockholders of record. Mar. 31 Paid the dividend declared on March 2. Nov, II Sold 24,000 of its treasury shares at $13 cash per share. Nov. 25 Sold 16,000 of its treasury shares at $10.50 cash per share. Dec. I Directors declared a $2.50 per share cash dividend payable on January 2 to the December 10 stockholders of record. Dec. 31 Closed the $1,072,000 credit balance (from net income) in the Income Summary account to Retained Earnings