The balance sheet of Millan Management Consulting, Inc. at December 31, 2023, reported the following stockholders' equity: Stockholders' Equity Paid-In Capital: Common Stock$10 Par Value; 100,000 shares authorized, 26,000 shares issued and outstanding $260,000 Paid-In Capital in Excess of ParCommon 340,000 Total Paid-In Capital 600,000 Retained Earnings 158,000 Total Stockholders' Equity $758,000. During 2024, Millan completed the following selected transactions: Feb. 6 Declared a 10% stock dividend on common stock. The market value of Millan's stock was $30 per share. Feb. 15 Distributed the stock dividend. Jul. 29 Purchased 1,700 shares of treasury stock at $30 per share. Nov. 27 Declared a $0.15 per share cash dividend on the common stock outstanding. 1. Record the transactions in the general journal. 2. Prepare a retained earnings statement for the year ended December 31, 2024. Assume Millan's net income for the year was $87,000. 3. Prepare the stockholders' equity section of the balance sheet at December 31, 2024