Teal Company has the following stockholders' equity accounts at December 31, 2020. Common Stock ($100 par value, authorized 8,600 shares) Retained Earnings $455,100 314,100 (a) Your answer is correct. Prepare entries in journal form to record the following transactions, which took place during 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (1) 260 shares of outstanding stock were purchased at $97 per share. (These are to be accounted for using the cost method.) (2) A $19 per share cash dividend was declared. (3) The dividend declared in (2) above was paid. (4) The treasury shares purchased in (1) above were resold at $103 per share. (5) 550 shares of outstanding stock were purchased at $106 per share. (6) 370 of the shares purchased in (5) above were resold at $96 per share. No. Account Titles and Explanation 1. Treasury Stock Debit 25220 Cash 2. Retained Earnings 81529 Dividends Payable Credit 25220 81529