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 $352,000 of common stock now held in treasury. b. Declared cash dividends in the amount of $261,000. c. Paid the dividends in (b). d. Issued 120,000 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, assuming the following opening balances. Net income for the current year was $290,000. Additional Paid- Retained Common Stock Treasury Stock In Capital Earnings Beginning $ 13,500 $ 200,000 $ 152,000 $ 0 Stock Issuances Net Income 290,000 Dividends: Common Ending