QUESTION 9 - 35 POINTS Exotic Joe, Inc. ("EJI") had the following shares authorized issued and outstanding on January 1, 2020 AUTHORIZED ISSUED OUTSTANDING SHARES 20,000,000 600,000 600,000 EJl had the following transactions during 2020: A. Ell had a 1 for 4 reverse split on 2/1/20. B. EJl repurchased 20,000 shares for $18 per share on 6/1/20 C. Eli resold 3,000 of the shares that were purchased on 6/1/20 on 7/5/20 for $21 per share. D. Ell resold 7.000 of the shares that were purchased on 6/1/20 on 8/1/20 for $15 per share E El declared a cash dividend on 9/1/20 for $2.00 per share. The dividend would be paid to shareholders of record on 9/15/20. F. Esi paid the dividend that was declared on 9/1/20 on 9/30/20. G. EJI had $1,000,000 of beginning retained earnings and $8,000,000 of net income during 2020. REQUIRED: 1. PREPARE THE JOURNAL ENTRIES FOR TRANSACTIONS B, C, D, E AND F. 2. DETERMINE ENDING RETAINED EARNINGS FOR EJI AS OF 12/31/20