Quality First Company reports the following components of stockholders equity on December 31, 2016: (Please show answers as clear as possible, thank you).

Common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings 400,000 60,000 330,000 790,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts 1 Purchased 4,000 shares of its own stock at $23 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of Jan. Jan. record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,500 of its treasury shares at $27 cash per share. Aug. 22 Sold 2,500 of its treasury shares at $20 cash per share. Sept 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record . Oct. 28 Paid the dividend declared on September 5 Dec. 31 Closed the $370,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Answer is not complete General Journal General Ledger Statement of Stockholders Impact on Equity Requirement Trial Balance RE Equity General Journal tab Prepare the necessary journal entries Statement of Retained Earnings tab Prepare the Statement of Retained Earnings for the Quality First Corporation for the year ended December 31, 2017 Stockholders Equity tab - Prepare the Stockholders' equity section of Quality First Corporation's December 31, 2017 balance sheet Impact on Equity tab - For each transaction, indicate the total change in Stockholders' Equity, if any. Verify that total equity, as calculated, agrees with the amount reported on the Stockholders' Equity tab General Genera Tria State Journal Ledger Balance of RE Impact In year 2017, the following transactions affected its stockholders' equity accounts. Prepare the necessary journal entries. If no journal entry is required, select "No journal entry required" in the first input box. Date Jan 01 Account Title Treasury stock, Common 92 Cash 92 Jan 05 Equipment Equipment Equipment Equipment Equipment Equipment Feb 28 Cash Jul 06 Accounts receivable Accounts receivable Accounts receivable Accounts receivable Accounts receivable Accounts receivable Aug 22 Supplies Supplies Supplies Supplies Supplies Supplies 6 Sep 05 Cash Cash Cash Cash Oct 28 Cash Dec 31 Cash Cash Cash Cash Answer is not complete General Journal General Ledger Statement of Stockholders Impact on Requirement Trial Balance RE Equity Equity Dates: Jan 01 to: Dec 31 General Ledger Account Cash Accounts receivable Date Dec 31 1Jan 01 Debit Credit Date Dec 31 Debit Credit Balance Balance 0. 370,000 278,000 172,000 92,000 Equipment Accumulated depreciation Equipment Date Debit Credit Date Dec 31 Debit Credit Balance Balance 0. Dec 31 680,000 62,000 Paid-in capital, Common Common stock Date Debit Credit Date Debit Credit Balance Balance 0. 400,000 60,000 Jan 01 Retained earnings Treasury stock, Common Date Debit Credit Date Debit Credit Balance Balance 0. Jan 01 330,000 0 1Jan 01 92,000 92,000 Income summary Date Debit Credit Balance 0. Dec 31 (370,000) Trial Balance> General Journal Answer is not complete General Journal General Ledger Statement of Stockholders Impact on Requirement Trial Balance RE Equity Equity Dates: Jan 01 to: Dec 31 QUALITY FIRST CORPORATION Trial Balance December 31, 2017 Account Title Debit Credit Cash Accounts receivable Equipment Accumulated depreciation Equipment Common stock Paid-in capital, Common Retained earnings Treasury stock, Common Income summary 278,000 172,000 680,000 62,000 400,000 60,000 330,000 92,000 370,000 1,222,000 Total 1,222,000 KGeneral Ledger Statement of RE> Answer is not complete Statement of StockholdersImpact on Equity General Journal General Ledger Requirement Trial Balance RE Equity Prepare the Statement of Retained Earnings for Quality First Corporation for the year ended December 31, 2017 QUALITY FIRST CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 Retained earnings, Dec. 31, 2016330,000 370,000 700,000 Add: Net income Less: Cash dividends declared Less: Treasury stock reissuances Retained earnings, Dec. 31, 2017$ 700,000 KTrial Balance Stockholders Equity> Answer is not complete Statement of Stockholders Impact on Equity General Journal General Ledger Requirement Trial Balance RE Equity Prepare the stockholders' equity section of Quality First Corporation's balance sheet as of December 31, 2017. Dates: Jan 01 to: Dec 31 QUALITY FIRST CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Common stock- $10 par value Paid-in capital in excess of par value, common stock Total contributed capital Retained earnings Total stockholders' equity 0 0 0 > Impact on Equity Statement of RE Answer is not complete. Statement of Stockholders Impact on General Journal General Ledger Requirement Trial Balance Equity Equity RE For each transaction, indicate the impact on total stockholders" equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31, 2017, as calculated, agrees with the amount reported on the balance sheet. Dates: Jan 01 to: Dec 31 Impact on equity Total Stockholders' Equity December 31, 2016 Stockholders' equity decreased Jan. 1) Purchased 4,000 shares of its own stock at $23 cash per share Jan. 5) Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record Stockholders' equity decreased Feb. 28) Paid the dividend declared on January5 Jul. 6) Sold 1,500 of its treasury shares at $27 Stockholders' equity cash per share Aug. 22) Sold 2,500 of its treasury shares at $20 cash per share Sep. 5) Directors declared a $2 per dividend payable on October 28 to the September 25 stockholders of record Oct. 28) Paid the dividend declared on September 5 Dec. 31) Closed the $370,000 credit balance (from net income) in the Income Summary account to Retained Earnings Total Stockholders' Equity as calculated on December 31, 2017 No change in total equity increased Stockholders' equity increased Stockholders' equity decreased share cash No change in total equity Stockholders' equity increased 0 Total Stockholders Equity as reported on Stockholder's Equity tab Congratulations, you've explained the total change in equity! K Stockholders Equity mpact on Equity Common stock-$10 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings 400,000 60,000 330,000 790,000 Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts 1 Purchased 4,000 shares of its own stock at $23 cash per share. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of Jan. Jan. record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,500 of its treasury shares at $27 cash per share. Aug. 22 Sold 2,500 of its treasury shares at $20 cash per share. Sept 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record . Oct. 28 Paid the dividend declared on September 5 Dec. 31 Closed the $370,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Answer is not complete General Journal General Ledger Statement of Stockholders Impact on Equity Requirement Trial Balance RE Equity General Journal tab Prepare the necessary journal entries Statement of Retained Earnings tab Prepare the Statement of Retained Earnings for the Quality First Corporation for the year ended December 31, 2017 Stockholders Equity tab - Prepare the Stockholders' equity section of Quality First Corporation's December 31, 2017 balance sheet Impact on Equity tab - For each transaction, indicate the total change in Stockholders' Equity, if any. Verify that total equity, as calculated, agrees with the amount reported on the Stockholders' Equity tab General Genera Tria State Journal Ledger Balance of RE Impact In year 2017, the following transactions affected its stockholders' equity accounts. Prepare the necessary journal entries. If no journal entry is required, select "No journal entry required" in the first input box. Date Jan 01 Account Title Treasury stock, Common 92 Cash 92 Jan 05 Equipment Equipment Equipment Equipment Equipment Equipment Feb 28 Cash Jul 06 Accounts receivable Accounts receivable Accounts receivable Accounts receivable Accounts receivable Accounts receivable Aug 22 Supplies Supplies Supplies Supplies Supplies Supplies 6 Sep 05 Cash Cash Cash Cash Oct 28 Cash Dec 31 Cash Cash Cash Cash Answer is not complete General Journal General Ledger Statement of Stockholders Impact on Requirement Trial Balance RE Equity Equity Dates: Jan 01 to: Dec 31 General Ledger Account Cash Accounts receivable Date Dec 31 1Jan 01 Debit Credit Date Dec 31 Debit Credit Balance Balance 0. 370,000 278,000 172,000 92,000 Equipment Accumulated depreciation Equipment Date Debit Credit Date Dec 31 Debit Credit Balance Balance 0. Dec 31 680,000 62,000 Paid-in capital, Common Common stock Date Debit Credit Date Debit Credit Balance Balance 0. 400,000 60,000 Jan 01 Retained earnings Treasury stock, Common Date Debit Credit Date Debit Credit Balance Balance 0. Jan 01 330,000 0 1Jan 01 92,000 92,000 Income summary Date Debit Credit Balance 0. Dec 31 (370,000) Trial Balance> General Journal Answer is not complete General Journal General Ledger Statement of Stockholders Impact on Requirement Trial Balance RE Equity Equity Dates: Jan 01 to: Dec 31 QUALITY FIRST CORPORATION Trial Balance December 31, 2017 Account Title Debit Credit Cash Accounts receivable Equipment Accumulated depreciation Equipment Common stock Paid-in capital, Common Retained earnings Treasury stock, Common Income summary 278,000 172,000 680,000 62,000 400,000 60,000 330,000 92,000 370,000 1,222,000 Total 1,222,000 KGeneral Ledger Statement of RE> Answer is not complete Statement of StockholdersImpact on Equity General Journal General Ledger Requirement Trial Balance RE Equity Prepare the Statement of Retained Earnings for Quality First Corporation for the year ended December 31, 2017 QUALITY FIRST CORPORATION Statement of Retained Earnings For Year Ended December 31, 2017 Retained earnings, Dec. 31, 2016330,000 370,000 700,000 Add: Net income Less: Cash dividends declared Less: Treasury stock reissuances Retained earnings, Dec. 31, 2017$ 700,000 KTrial Balance Stockholders Equity> Answer is not complete Statement of Stockholders Impact on Equity General Journal General Ledger Requirement Trial Balance RE Equity Prepare the stockholders' equity section of Quality First Corporation's balance sheet as of December 31, 2017. Dates: Jan 01 to: Dec 31 QUALITY FIRST CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2017 Common stock- $10 par value Paid-in capital in excess of par value, common stock Total contributed capital Retained earnings Total stockholders' equity 0 0 0 > Impact on Equity Statement of RE Answer is not complete. Statement of Stockholders Impact on General Journal General Ledger Requirement Trial Balance Equity Equity RE For each transaction, indicate the impact on total stockholders" equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31, 2017, as calculated, agrees with the amount reported on the balance sheet. Dates: Jan 01 to: Dec 31 Impact on equity Total Stockholders' Equity December 31, 2016 Stockholders' equity decreased Jan. 1) Purchased 4,000 shares of its own stock at $23 cash per share Jan. 5) Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record Stockholders' equity decreased Feb. 28) Paid the dividend declared on January5 Jul. 6) Sold 1,500 of its treasury shares at $27 Stockholders' equity cash per share Aug. 22) Sold 2,500 of its treasury shares at $20 cash per share Sep. 5) Directors declared a $2 per dividend payable on October 28 to the September 25 stockholders of record Oct. 28) Paid the dividend declared on September 5 Dec. 31) Closed the $370,000 credit balance (from net income) in the Income Summary account to Retained Earnings Total Stockholders' Equity as calculated on December 31, 2017 No change in total equity increased Stockholders' equity increased Stockholders' equity decreased share cash No change in total equity Stockholders' equity increased 0 Total Stockholders Equity as reported on Stockholder's Equity tab Congratulations, you've explained the total change in equity! K Stockholders Equity mpact on Equity