Streamline Corporation reports the following components of stockholders' equity on January 1. Comon stock- $10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, comnon stock Retained earnings Total stockholders' equity \begin{tabular}{r} $500,ee \\ 75,e00 \\ 410,e00 \\ \hline$985,e00 \\ \hline \end{tabular} During the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stocikholders of record. February 28 paid the dividend declared on January 5. July 6 sold 2 , 5ee of fts treasury shares at $27 cash per share. August 22 sold 2 , 50 ef its treasury shares at $19 cash per share. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the september 25 stockholders of record. October 28 Paid the dividend declared on Septenber 5. December 31 closed the $206, see credit balance (from net income) in the Income Summary account to Retained Earnings. Journal entry worksheet Purchased 5,000 shares of its own stock at $23 cash per share. Note: Enter debits before credits. Journal entry worksheet Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Note: Enter debits before credits. Journal entry worksheet 1 5 Paid the dividend declared on January 5. Note: Enter debits before credits. Journal entry worksheet Sold 2,500 of its treasury shares at $27 cash per share. Note: Enter debits before credits. Journal entry worksheet Sold 2,500 of its treasury shares at $19 cash per share. Note: Enter debits before credits. Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Note: Enter debits before credits. Journal entry worksheet 1 5 Paid the dividend declared on September 5. Note: Enter debits before credits. Journal entry worksheet Closed the $206,500 credit balance (from net income) in the Income Summary account to Retained Earnings. Note: Enter debits before credits. Prepare the Statement of Retained Earnings for Streamline Corporation for the year ended December 31. Prepare the stockholders' equity section of Streamline Corporation's balance sheet as of December 31 For each transaction, indicate the impact on total stockholders' equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31 , as calculated, agrees with the amount reported on the balance sheet. \begin{tabular}{|c|c|c|} \hline & Impact on equity & \$ \\ \hline \multicolumn{3}{|l|}{ Total Stockholders' Equity - January 1} \\ \hline \multicolumn{3}{|l|}{\begin{tabular}{l} January 2) Purchased 5,000 shares of its own \\ stock at $23 cash per share. \end{tabular}} \\ \hline \multicolumn{3}{|l|}{\begin{tabular}{l} January 5) Directors declared a $2 per share cash \\ dividend payable on February 28 to the February 5 \\ stockholders of record. \end{tabular}} \\ \hline \multicolumn{3}{|l|}{\begin{tabular}{l} February 28) Paid the dividend declared on \\ January 5. \end{tabular}} \\ \hline \multicolumn{3}{|l|}{\begin{tabular}{l} July 6) Sold 2,500 of its treasury shares at \$27 \\ cash per share. \end{tabular}} \\ \hline \multicolumn{3}{|l|}{\begin{tabular}{l} August 22) Sold 2,500 of its treasury shares at $19 \\ cash per share. \end{tabular}} \\ \hline \multicolumn{3}{|l|}{\begin{tabular}{l} September 5 ) Directors declared a \$2 per share \\ cash dividend payable on October 28 to the \\ September 25 stockholders of record. \end{tabular}} \\ \hline \multicolumn{3}{|l|}{\begin{tabular}{l} October 28 ) Paid the dividend declared on \\ September 5 . \end{tabular}} \\ \hline \begin{tabular}{l} December 31 ) Closed the $206,500 credit balance \\ (from net income) in the Income Summary account \\ to Retained Earnings. \end{tabular} & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular}