Requirement 2. Prepare a retained earnings statement for the year ended December 31, 2018. Assume Millan's net income for the year was $83,000. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal, (Check your spelling carefully and do not a Millan Management Consulting, Inc. Statement of Retained Earnings Year Ended December 31, 2018 Choose from any list or enter any number in the input fields and then click Check Answer. 1 part Clear All remaining D K ne icon to view the transactions.) Read the requirements Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Feb. 6: Declared a 5% stock dividend on the common stock. The market value of Millan's stock was $26 per share Date Accounts and Explanation Debit Credit Data Table Feb. 6 Stock Dividends 39,000 Common Stock Dividend Distributable 18,000 Paid-in Capital in Excess of Par-Common Stockholders' Equity 21,000 Paid In Capital Declared a 5% stock dividend. Common Stock-$12 Par Value: 250,000 shares authorized, 30,000 shares issued and outstanding Feb. 15: Distributed the stock dividend. Pald-in Capital in Excess of Par-Common Date 1 Accounts and Explanation Debit Total Palis in Capital Feb. 15 Common Stock Dividend Distributable 18,000 Retained Earnings Common Stock-$12 Par Value 18.000 Total Stockholders' Equity $ 350,000 320 000 680.000 163.000 Credit 18.00 $ 843,000 Print Done Issued a 5% stock dividend. Jul. 29: Purchased 2,000 shares of treasury stock at $26 per share. Date Accounts and Explanation Jul. 29 Treasury Stock-Common Cash Credit Debit 52.000 O More Info 52 000 Feb 6 Declared a 5% stock divide on common stock. The market value of Milan's stock was $26 per share. 15 Distributed the stock dividend. 29 Purchased 2.000 shares of treasury stock at $26 per Ju Purchased treasury stock Nov. 27: Declared a 50.15 per share cash dividend on the common stock outstanding. (Round your answers to the Date Accounts and Explanation Debit Credit Nov. 27 Cash Dividends Dividends Payable-Common Nov. 27 Declared a $0.15 per share cash dividend on the common stock outstanding Print Done Declared cash dividend. e rindamies statement for the year ended December 31, 2018. Assume Millan's net income for the vear was $83.000 Manusirament Requirement 2. Prepare a retained earnings statement for the year ended December 31, 2018. Assume Millan's net income for the year was $83,000. Enter any increases in retained earnings prior to the subtotal and any decreases to retained earnings below the subtotal. (Check your spelling carefully and do not abbreviate.) Millan Management Consulting, Inc. Statement of Retained Earnings i Data Table Year Ended December 31, 2018 $ Stockholders' Equity Paid-In Capital: Common Stock-$12 Par Value; 250,000 shares authorized, 30,000 shares issued and outstanding Paid-In Capital in Excess of ParCommon Total Paid-In Capital Retained Earnings Total Stockholders' Equity 360,000 320,000 680,000 163,000 843,000 Choose from any list or enter any number in the input fields and then click Chec $ 1 part