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Shown below In T-account format are the changes affecting the retained earnings of Brenner Jude Corporation during 2021 A January 1, 2021, the corporation had

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Shown below In T-account format are the changes affecting the retained earnings of Brenner Jude Corporation during 2021 A January 1, 2021, the corporation had outstanding 108 million common shares. $1 par per share Retained Earnings (5 in millions) 103 Beginning balance Retirement of 8 million common shares for $32 million 6 87 Net Income for the year 35 Declaration and payment of a $0.35 per Share cash dividend Declaration and distribution of a 6% stock dividend 34 115 Ending balance Required: 1. From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner-Jude's retained earnings during 2021. Prepare the journal entries that Brenner-Jude must have recorded during the year for these transactions. (Hint in lieu of revenues and expenses. use an account titled "Income summary to close net income or net loss.) 2. Prepare a statement of retained earnings for Brenner-Jude for the year ended 2021 Journal entry worksheet Record the closing entry for net income. Note: Enter debits before credits. Event General Journal Debit Credit 2 Record entry Clear entry View General journal Journal entry worksheet 2 4 ed Record the declaration and payment of a cash dividend. Noter Enter debits before credite ces Event General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 2 3 Record the declaration and distribution of a stock dividend. Note: Enter debits before credits Event General Journal Debit Credit Record entry Clear entry View general journal BE Check my Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a statement of retained earnings for Brenner-Jude for the year ended 2021. (Enter your answers in millions (... 10,000,000 should be entered as 10).) BRENNER-JUDE CORPORATION Statement of Retained Earnings FOR THE YEAR ENDED DECEMBER 31, 2021 (s in millions) Balance at January 1 5 103 Deductions Balance at December 31

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