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 $351,500 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. 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.) 25 View transaction list Journal entry worksheet 1 2 3 4 5 Record the purchase of $351,500 common stock now held in treasury. Note: Enter debits before credits Journal entry worksheet N Record the cash dividends declared in the amount of $260,750. Note: Enter debits before credits. Event General Journal Debit Credit b Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the issue of 115,000 new shares of $0.10 par value, for $2 per share. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general Journal Journal entry worksheet