Required information E11-9 (Algo) Recording and Reporting Stockholders' Equity Transactions, Including Closing Entry [LO 11-2, LO 11-3] [The following information applies to the questions displayed below.] The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $351,500 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,750. c. Paid the dividends in (b). d. Issued 115,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. E11-9 (Algo) Part 2 2. Prepare journal entries to record each of these events. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)