The statement of retained earnings of Gary Larson Publishers is presented below. $262 GARY LARSON PUBLISHERS Statement of Retained Earnings For the Year Ended December 31, 2021 ($ in millions) Retained earnings, January 1 Add: Net income Deduct: Cash dividend Stock dividend (1 million shares of $1 par common stock) Property dividend (Garfield Company preferred stock held as a short-term investment) Sale of treasury stock (cost $48 million) Retained earnings, December 31 77 (21) (24) (20) (11) $261 Required: For the transactions that affected Larson's retained earnings, reconstruct the journal entries that can be used to determine cash flows to be reported in a statement of cash flows. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field. Enter your answers in millions (I.e., 10,000,000 should be entered as 10).) No Event Debit Credit Answer is complete but not entirely correct. General Journal Net income Retained earnings 1 1 77 77 2 2 > 21 Retained earnings Cash 21 3 3 Retained earnings 24 Common stock Paid-in capital - excess of par 23 4 4 Retained earnings 20 Short-term investments 20 5 5 Cash 31 Retained earnings 11 Treasury stock 42 X