The balance sheet of Collin Management Consulting, Inc. at December 31,2023, reported the following stockholders' equity: (Click the icon to view the stockholders' equity section of the balance sheet.) During 2024, Collin completed the following selected transactions: (Click the icon to view the transactions.) Read the requirements. 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.) Requirements 1. Record the transactions in the general journal. 2. Prepare a retained earnings statement for the year ended December 31 , 2024. Assume Collin's net income for the year was $87,000. 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2024. Requirement 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2024. More info \begin{tabular}{ll} \hline Feb. 6 & Declareda5%stockdividendoncommonstock.ThemarketvalueofCollinsstockwas$28pershare. \\ Feb. 15 & Distributed the stock dividend. \\ Jul. 29 & Purchased 1,700 shares of treasury stock at $28 per share. \\ Nov. 27 & Declared a $0.20 per share cash dividend on the common stock outstanding. \\ \hline \end{tabular} The balance sheet of Collin Management Consulting, Inc. at December 31,2023, reported the following stockholders' equity: (Click the icon to view the stockholders' equity section of the balance sheet.) During 2024, Collin completed the following selected transactions: (Click the icon to view the transactions.) Read the requirements. 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.) Requirements 1. Record the transactions in the general journal. 2. Prepare a retained earnings statement for the year ended December 31 , 2024. Assume Collin's net income for the year was $87,000. 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2024. Requirement 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2024. More info \begin{tabular}{ll} \hline Feb. 6 & Declareda5%stockdividendoncommonstock.ThemarketvalueofCollinsstockwas$28pershare. \\ Feb. 15 & Distributed the stock dividend. \\ Jul. 29 & Purchased 1,700 shares of treasury stock at $28 per share. \\ Nov. 27 & Declared a $0.20 per share cash dividend on the common stock outstanding. \\ \hline \end{tabular}