Retained Earnings: Transactions and Statement The stockholders' equity accounts of Rayburn Corporation as of January 1 appear below: During the year, the following transactions occurred: June 7 Dedared a 10 percent stock dividend; market value of the common stock was $11 per share. june 28 issued the stock dividend declared on June 7. Dec: 5 Declared a cash dividend of $1.25 per share. Dec 26 Paid the cash dividend declared on December 5. Required a. Prepare iournal entries to record the foregoing transactions. a. Prepare journal entries to record the foregoing transactions: b. Prepare a statement of retained earnings. The net income for the year is $412,000. Do not use negative signs with your answers. b. Prepare a statement of retained earnings. The net income for the year is $412,000. Do not use negative signs with your answers. Please answer all parts of the