The following shareholders' equity section was taken from the books'of the Olivia Corporation at the beginning of the current year (Click the icon to view the data.) Read the requirements. Requirement a. Prepare the jounal entries required to record each of the following events. (Record debits first, then credits. Exclude explanations from any journal entries. Check your spelling carefully and do not abbreviate.) . Olivia acquired 14,000 shares of common stock to be held in the treasury at a cost of $20 per share. Account Current Year Olivia sold 4,500 shares of treasury stock at $25 per share Account Current Year Olivia sold 7,400 shares of treasury stock at $15 per share." Current Year Account Olivia reported a net loss of $361,480 for the year. Close out the Income Summary account at the end of the year Current Year Account The company declared and paid a $1.90 per share cash dividend at year-end. Begin by peparing the journal entry to record the declaration of the cash dividend Current Year Account