The annual report for Malibu Beachwear reported the following transactions affecting stockholders equity:

Purchased $351,700 of common stock now held in treasury.

Declared cash dividends in the amount of $260,850.

Paid the dividends in (b).

Issued 117,000 new shares of $0.10 par value common shares for $2 per share.

Closed the Dividends account.

1. Indicate the effect (+ for increase, - for decrease, +/ for increase/decrease) of each of these transactions on total assets, liabilities, and stockholders' equity. (Leave cell blank if there is no effect.) 2. Prepare journal entries to record each of these events. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 5 Record the purchase of $351,700 common stock now held in treasury. Note: Enter debits before credits. Journal entry worksheet 5 Record the cash dividends declared in the amount of $260,850. Note: Enter debits before credits. Journal entry worksheet Record the payment of the dividend. Note: Enter debits before credits. Journal entry worksheet Record the issue of 117,000 new shares of $0.10 par value, for $2 per share. Note: Enter debits before credits. Journal entry worksheet 1 Record the entry to close Dividends account. Note: Enter debits before credits. 3. Prepare a statement of stockholders' equity, assuming the following opening balances. Net income for the current year was $287,000