Required information [The following information applies to the questions displayed below.] The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $351,900 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,950. c. Paid the dividends in (b). d. Issued 119,000 new shares of $0,10 par value common shares for $2 per share. e. Closed the Dividends account. 3. Prepare a statement of stockholders' equity, assuining the following opening balances. Net income for the current year $289,000