The stockholders' equity section of Miky Stores, Inc.'s balance sheet at December 31, 2017 follows: (Click the icon to view the data.) During 2018, Miky completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement a. Prepare the journal entries required to reflect the transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) November 9, 2018: Purchased 3,400 shares of its own stock to be held in the treasury. The cost per share was $23. Account November 17, 2018: Declared and paid a cash dividend of $9 per share. Account November 9, 2018 November 17, 2018 November 30, 2018: Sold 2,200 treasury shares for $20 per share. Assume FIFO is used. Account December 31, 2018 (1): Declared and paid a cash dividend of $9 per share. Account November 30, 2018 December 31, 2018 December 31, 2018 (2): Wrote down an available-for-sale investment by $23,100. Account December 31, 2018 December 31, 2018: Reported $40,000 net income for the year and closed net income, other comprehensive income and dividend accounts. December 31, 2018 (3): Prepare the entry to close net income. Account December 31, 2018 December 31, 2018 (4): Prepare the entry to close out all dividends declared accounts. Account December 31, 2018 Data Table Stockholders' Equity Common Stock: no par, $1 stated value, 90,000 authorized and 50,000 shares Issued, and 45,000 shares outstanding $ 50,000 Additional Paid-in Capital in Excess of Stated Value - Common Retained Earnings Less: Cost of Treasury Stock (5,000 shares) Total Stockholders' Equity Transactions Print Done 375,000 960,000 (115,000) $ 1,270,000 November 9: Purchased 3,400 shares of its own stock to be held in the treasury. The cost per share was $23. November 17: Declared and paid a cash dividend of $9 per share. November 30: Sold 2,200 treasury shares for $20 per share. Assume FIFO is used. December 31: Declared and paid a cash dividend of $9 per share. December 31: Wrote down an available-for-sale investment by $23,100. December 31: Reported $40,000 net income for the year and closed net income, other comprehensive income and dividend accounts. Print Done December 31, 2018 (5): Prepare the entry to close out other comprehensive income. Account December 31, 2018 Requirement b. Based on the information provided, prepare the shareholders' equity section for Miky at December 31, 2018, and the relevant t-accounts. Begin by posting to the relevant shareholders' equity section t-accounts. For accounts with a beginning balance, enter the amount on the first line and label with Beg. Bal. For accounts that do not have a beginning balance, no entry is required. Post each transaction on the first available line. Use the transaction dates provided before each journal entry as posting references to post each transaction to the relevant accounts, then compute the ending balance of each account. Label the ending balances with End. Bal. (For accounts with a $0 balance, select "End. Bal." and enter "0" on the normal balance side of the t-account. Abbreviations used: APIC = Additional paid-in capital.) Review the journal entries that you prepared in Requirement a. Common Stock - Par Retained Earnings APIC in Excess of Par - Common Dividends - Common Treasury Stock Accumulated Other Comprehensive Income Now construct the shareholders' equity section for the year-end balance sheet. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet. Use parentheses or a minus sign for loss amounts and/or numbers to be subtracted.) Review the ending balances of the t-accounts that you prepared in Requirement b. Stockholders' Equity Balance Total Contributed Capital Total Contributed Capital and Retained Earnings Total Stockholders' Equity