Required information [The following information opplies to the questions displayed below.] The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $350,000 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,000. c. Paid the dividends in (b). d. Issued 100,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. . 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.) 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.) Journal entry worksheet 2345 Record the purchase of $350,000 common stock now held in treasury. Note: Enter debits before credits. Journal entry worksheet Record the cash dividends declared in the amount of $260,000. Note: Enter debits before credits. Journal entry worksheet Record the payment of the dividend. Note: Enter debits before credits. Journal entry worksheet