Share Holder equity 3 Utah Corporation reports the following components of stockholders' equity on December 31 Common stock-$20 par value, 100,000 shares authorized 40,000 shares issued and outstanding 800.000 Paid-in capital in excess of par value, common stock 60 000 Retained earnings 430.000 Total stockholders' equity 1,290,000 10 11 During thea year, the following transactions affected its stockholders' equity accounts 13 Jan No Jan 15 Feb 16 July No No Purchased 4,500 shares of its own stock at S15 cash per share Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record Paid the dividend declared on January 5 Sold 1688 of its treasury shares at $19 cash per share Sold 2,812 of its treasury shares at $12 cash per share Directors declared a $2 per share cash dividend payable on Paid the dividend declared on September 5 Closed the $408.000 credit balance (from net income) in the Income Summary account to Retained Earnings 22 Required: 23 1. Prepare journal entries to record each of these transactions Drallems AutoSave Om AC216 Unit 5 Assignment 5 - Share Holde File Home Insert Page Layout Formulas Data Review View Help PDF Suite 2 PROTECTED VIEW Be careful files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Pro 622 - X for 12 Required: 23 1. Prepare journal entries to record each of these transactions 24 2. Prepare a statement of retained earnings for the year ended December 31, 2019 25 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2019 No General Journal Debit Credit Date 02-Jan 05-Jan 322 33 34 35 36 37 38 3 28-Feb 4 06-Jul 40 42 5 22-Aug Problem 5 6 05-Sep 7 28-Oct OWNO- 31-Dec Statement of Retained Earnings 31-Dec Beginning retained earnings Ending retained earnings Stockholders' Equity Section of the Balance Sheet 31-Dec Total contributed capital Total stockholders' equity Tem 5