[The following information applies to the questions displayed below.) The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $350,100 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,050. C. Paid the dividends in (b). d. Issued 101,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. 6. value: 0.50 points Required information Required: 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.) Assets Liabilities Stockholders' Equity 1 + 7. value: 0.50 points Required infor 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 View journal entry worksheet General Journal Credit No Event 1a Debit 350,100 Treasury Stock Cash 350,100 2 b 260,050 Dividends Dividends Payable 260,050 260,050 Dividends Payable Cash 260,050 Cash Additional Paid-In Capital, Common Stock Common Stock 5e Retained Earnings Dividends value: 0.50 points 3. Prepare a statement of stockholders' equity, assuming the following opening balances. Additional Common Stock Paid-In Capital $ 12,550 $ 190,500 Retained Earnings $ 150,100 Treasury Stock $ Beginning Stock Issuances Net Income Dividends: Common Ending 271,000 $ 12,550 $ 190,500 $ 421,100 $