The following information applies to the questions displayed below. The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $351,000 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,500. c. Paid the dividends in (b) d. Issued 110,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. value: 10.00 points 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.) View transaction list Journal entry worksheet 4 Record the purchase of $351,000 common stock. Note: Enter debits before credits. Event General Journal Debit Credit