The equity sections for Sanchez Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders' Equity (January 1) Common stock-$8 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 400,000 60,000 330,000 $ 790,000 Stockholders' Equity (December 31) Common stock-$8 par value, 120,000 shares authorized, 58,010 shares issued, 5,500 shares in treasury $ 464,080 Paid-in capital in excess of par value, common stock 140,100 Retained earnings ($88,000 restricted by treasury stock) 590,000 1,194,180 Less cost of treasury stock (88,000) Total stockholders' equity $1,106,180 Jan. The following transactions and events affected its equity during the year. 5 Declared a $1.80 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $1.80 per share cash dividend, payable on April 10. July 5 Declared a $1.80 per share cash dividend, payable on July 10. July 31 Declared a 18% stock dividend when the stock's market value was $18 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $1.80 per share cash dividend, date of record October 10. Note: The ending equity balances should agree with the December 31 Statement of Stockholders' Equity. Dates: Jan 01 to: Dec 31 General Ledger Account Cash Debit Common stock Debit Credit No. Credit No. Date Jan 01 Balance 1,538,898 Date Jan 01 Balance 400,000 Paid-in capital, Common Debit Credit Retained earnings Debit Credit No. Date No. Balance 60,000 Date Jan 01 Balance 330,000 Jan 01 Income summary No. Date Debit Credit Balance (748,898) Jan 01 Sanchez Group Trial Balance December 31, 2019 Account Title Credit Debit 1,538,898 $ 400,000 Cash Common stock Paid-in capital, Common Retained earnings Income summary Total 60,000 330,000 748,898 1,538,898 $ 1,538,898 $ Journal entry worksheet 1 2 3 3 4 5 6 7 8 12 Declared a $1.80 per share cash dividend, payable on January 10. Note: Enter debits before credits. Date Account Title Debit Credit Jan 05 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 ..... 12 > Record payment of the 01/05 dividend. Note: Enter debits before credits. Date Account Title Debit Credit Jan 10 Record entry Clear entry View general journal Journal entry worksheet Purchased treasury stock for cash. Hint: Use information from the December 31 Stockholders' equity statement. Entry to restrict retained earnings is not required. Note: Enter debits before credits. Date Account Title Debit Credit Mar 20 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 7 8 ... 12 > Declared a $1.80 per share cash dividend, payable on April 10. Note: Enter debits before credits. Account Title Debit Credit Date Apr 05 Record entry Clear entry View general journal Journal entry worksheet Declared a 18% stock dividend when the stock's market value is $18 per share. Note: Enter debits before credits. Date Account Title Debit Credit Jul 31 Journal entry worksheet