Stockholders' Equity Paid-In Capital: Common Stock-$10 Par Value; 100,000 shares authorized, 26,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity GA $ 260,000 360,000 620,000 155,000 775,000 Feb. 6 Feb. 15 Jul. 29 Nov. 27 Declared a 5% stock dividend on common stock. The market value of Truman's stock was $24 per share. Distributed the stock dividend. Purchased 2,500 shares of treasury stock at $24 per share. Declared a $0.10 per share cash dividend on the common stock outstanding. Requirements 1. Record the transactions in the general journal. 2. Prepare a retained earnings statement for the year ended December 31, 2024. Assume Truman's net income for the year was $87,000. 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2024. 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 Truman's stock was $24 per share. Date Accounts and Explanation Debit Credit Feb. 6 Feb. 15: Distributed the stock dividend. Date Accounts and Explanation Debit Credit Feb. 15 Jul. 29: Purchased 2,500 shares of treasury stock at $24 per share. Date Accounts and Explanation Debit Credit Jul. 29 Nov. 27: Declared a $0.10 per share cash dividend on the common stock outstanding. (Round your answers to the nearest whole dollar.) Date Accounts and Explanation Debit Credit Nov. 27 Requirement 2. Prepare a retained earnings statement for the year ended December 31, 2024. Assume Truman's net income for the year was $87,000. 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.) Truman Management Consulting, Inc. Statement of Retained Earnings Year Ended December 31, 2024 Requirement 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2024. (Use parentheses or a minus sign for amounts to be subtracted.) Truman Management Consulting, Inc. Balance Sheet (Partial) December 31, 2024 Stockholders' Equity Paid-In Capital: Total Paid-In Capital Total Stockholders' Equity