uring the year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. ebruary 28 Paid the dividend declared on January 5. July 6 Sold 2,500 of its treasury shares at $27 cash per share. August 22 Sold 2,500 of its treasury shares at $19 cash per share. eptember 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. ecember 31 closed the $270,000 credit balance (from net income) in the Income Summary account to Retained Earnings. Prepare the Statement of Retained Earnings for Lafayette Corporation for the year ended December 31 . For each transaction, indicate the impact on total stockholders' equity. Enter decreases to equity as negative values. Verify that total Stockholders' equity as of December 31, as calculated, agrees with the amount reported on the balance sheet. Dates: January 01 to: January 01 LAFAYETTE CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 \begin{tabular}{|l|l|} \hline & \\ \hline Total contributed capital & \\ \hline & $ \\ \hline Total stockholders' equity & $ \\ \hline \end{tabular} Vlew transaction Ilst Vew Journal entry worksheet